Case Study

Durable Medical Supply Company

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The Fire

  • A private equity owned $20 million medical equipment supplier with locations in Las Vegas, Tucson and Phoenix experiences operational and financial distress due to poor management practices, shoddy accounting and no employee accountability.

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The Rescue

  • Provided financial and operational advisory services to the stakeholders, including advising to replace executive management.

  • Successfully implemented financial controls that allowed for on-going funding from secured lender.

  • Duration and nature of distress, that impacted reimbursements and cash flow, required the filing of Chapter 11.

  • Led bankruptcy and operational administration during initial 4 months of Chapter 11.

  • Undertook a review of operations to eliminate bottlenecks and led financial group dealing with significant cash collateral issues and highly recalcitrant lender.

  • Led effort and assisted bankruptcy counsel to timely and accurately complete 3 sets of debtors’ schedules and statement of financial affairs.

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The Result

Operations stabilized and successful bankruptcy 363(b) sale of the assets was completed.