Role: Receiver

Client: Michigan Circuit Court

Business Description: Retail (Macomb County, Michigan)

  • Car Wash
  • Related Strip Cntr.

Critical Issues:

  • Car wash had significant negative cash flow
  • Serious quality control issues
  • Employee theft
  • Management theft
  • Substantial deferred maint. and broken equipment
  • Run-down appearance
  • Removed individuals taking money from premises

Resolution:

  • Quashed foreclosure of junior lender
  • Repaired equipment
  • Added “curb-appeal” to landscaping and building exterior
  • Implemented standard maint program
  • Implemented standard policy, procedures & work rules
  • Implemented daily reports and systems to prevent employee theft
  • Sold to strategic buyer

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