Goldhar & Associates Ltd. was appointed the Receiver for a major stone retailer serving developers and contractors., managing significant liabilities to multiple stakeholders.
Retail
Court-Appointed Receivership
The Challenge
The proceeding commenced at the onset of the COVID-19 pandemic. The nature of business required onsite liquidation of the inventory during times of economic uncertainty posing a unique challenge.
Outcome
The liquidation process was successfully executed culminating into the sale of entire inventory, equipment and other assets on site, and secured creditors were positioned to recover effectively despite challenging pandemic conditions.
Our Approach
Conducted an efficient and cost-effective on-site liquidation of all assets, including stone inventory, manufacturing equipment, and office equipment.
Managed stakeholder expectations, addressing landlord, employee, and supplier issues to preserve value for the stakeholders.
Ensured smooth administration and communication throughout the process.
