The Board of a major Southeast cell tower design and construction company engaged a team of EGI Advisors when the management group walked out to start a competitive company and took virtually the entire 60 person workforce with them.
EGI assumed full command of the Company. As the crisis unfolded, including executives accused of wrongdoing and lawsuits filed in two states, crisis activities encompassed a strong forensic component; assistance in legal preparation; staffing all critical functional positions, including COO, CFO, Receivables/Payables Manager, HR Manager, Customer Service Manager, and Supply Chain Manager; contract management; project management and closeout, including completing existing construction and installation contracts; tax filings; benefits management; customer interface and negotiations; legal interface; fleet management and disposal; and a nationwide asset auction.
Results included the orderly wind down of the Company with EGI minimized professional costs, while achieving collections of $4.7 Million, raising $1.1 Million through an asset sale, and realizing income through selling and relocating a metal building, while ultimately avoiding litigation and regulatory issues with the estate.
