Asset Acquisition Lights the Way to Maximum Recovery for Secured Creditor
Following a bankruptcy process, a secured creditor gained control of the collateral of a national designer and distributor of residential and commercial lighting and ceiling fans. The creditor required a rapid monetization of both inventory and distribution center assets located across multiple warehouses in Ohio and California. The assets included new, in-box inventory as well as material handling equipment and pallet racking within the distribution facilities.
Hyper Group moved quickly to structure and execute a comprehensive monetization solution by assembling a joint venture to acquire the inventory and distribution center assets. After closing, inventory was removed from multiple warehouses and transferred to Hyper Group’s affiliate, Hyper Microsystems, for orderly resale over time. The distribution center assets were marketed and sold out of their respective warehouses over a 60-day period.
Hyper delivered a coordinated, time-sensitive plan that maximized efficiencies and provided a full monetization solution to the secured creditor. Assets were removed and warehouses were turned over to respective landlords on time. By combining speed, structure, and flexibility, Hyper Group turned a complex, multi-site situation into a streamlined and successful outcome.
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