Three full-service car wash/gas stations/convenience stores and a Jiffy Lube from a national acquisition and consolidation company
As the agent for the Receiver, Resolute Co-Founder, John Mitchell, performed interim management, operational oversight, and the coordination of the sale of the properties with the marketing staff of the Receiver.
Upon taking control of the assets, a comprehensive review of the operation’s plant and equipment was conducted. Capital control measures were implemented and in-depth negotiations for settling debts owed to key suppliers, vendors and employees for pre-receivership operations were accomplished.
Once the operations were stabilized and the environmental issues were resolved, the properties were sold on a date certain bid format for $8M.