Car Wash of America

Receiver to 3 Full-Service Car Washes

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  • Case Name

    -

  • Court

    Maricopa County Superior Court

  • Engagement Type

    Real Estate Receivership

Three full-service car wash/gas stations/convenience stores and a Jiffy Lube from a national acquisition and consolidation company

Situation

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.

 

Strategy

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.

 

Solution

Once the operations were stabilized and the environmental issues were resolved, the properties were sold on a date certain bid format for $8M.