Multi-location commercial fuel distributorship
Appointed as Receiver for multi-location commercial fuel distributorship. Associated properties were in Show Low and Springerville, Arizona. Resolute acted as Receiver to provide interim management, financial and operational analyses, environmental clean-up and support for the sale process.
Resolute was appointed at the request of the bank for two different receivership actions that occurred concurrently in different counties for the same borrower due to a loan default. Resolute was chosen because of their extensive fuel distributorship experience. Upon takeover, Resolute performed financial analysis which conclusively determined that the best course of action was a sale of the business. At present Resolute is working with four potential buyers.
Resolute stabilized operations so that they could be supported by current cash flow. Additionally, Resolute addressed legacy environmental issues and cultivated the interest of four potential buyers for the business.