Landscape Design, Construction & Maintenance Company

Company Overview



Landscape Design, Construction & Maintenance Company - a $20 million Company serving the residential and commercial landscaping markets for over 20 years.

Engagement Overview

 

As a result of the economic recession and year over year operating losses, the ownership of the Company decided it could no longer operate profitably and engaged Fort Dearborn to manage a wind down of the business with the goal of maximizing cash proceeds for the secured and unsecured creditors. 

Fort Dearborn took a multi-pronged approach to maximize proceeds:
1.  Market and sell profitable segments of the business
2.  Identify assets that could be sold through an auction process
3.  Manage working capital with the goal of maximizing cash through the wind down
4.  Assist management with winding down the business

 

 

 

Results
•  Through tough negotiations with the auctioneer, Fort Dearborn was able to sell the assets for fair market value and obtained a 50% down payment which enabled the Company to payoff all of its senior secured debt.

•  Successfully sold the snow plowing, commercial maintenance and residential maintenance business to an independent landscaping company.

•  Successfully sold the utility business to the owner of the Company.

•  Fort Dearborn successfully managed the Assignment for the Benefit of Creditors and distributed the remaining cash proceeds to the Company's unsecured creditors.