US Bankruptcy Court Appoints Business Capital as Chapter 11 Financial Advisor
US Bankruptcy Court Appoints Business Capital as Chapter 11 Financial Advisor
The client is the franchisee of a leading national and an international hotel chain. This property is located in downtown Memphis situated on the Main Street Trolley line close to local attractions, in a fully renovated building that is part of the National Historic Registry. The property was facing foreclosure as a result of the drop in the tourism and travel industry caused by the economic downturn. The hotel was the subject of an auction sale in order to satisfy the claim of the secured lender. Business Capital was approved by the US bankruptcy court as the Financial Advisor to, among other things, oversee and facilitate the sale of the hotel in Chapter 11. Because of BizCap’s experience and understanding in the bankruptcy process and relationships with a wide network of lenders and investors, the Firm was able to introduce the right bidders and ultimately get the bankruptcy estate the highest and best price for the property ($7.2M).
Link to transaction details: https://bizcapold.dev.olivestudio.net/major-hotel-chain-franchisee/
About Business Capital
Business Capital, founded in 2002, is a national commercial finance and debt restructuring firm specializing in business loans and creditor work-outs for small to middle market commercial and industrial companies. Our firm has extensive experience re-capitalizing and restructuring companies both in profitable and hyper-growth situations, as well as companies experiencing a financial set-back that are in need of significantly more working capital than their existing bank is willing to provide. Our unique ability to employ two separate value-oriented financial strategies of recapitalization and restructuring to deliver customized financial solutions, sets Business Capital apart from most traditional finance companies.
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