While I do not know the number, it seems there are countless preforming commercial mortgages that are put into default for technical reasons and maturities due. Lenders will put a perfectly paying mortgage in default in the second without hesitation. Owners need to beware of this and don't expect the lender to have any commonsense....more
Category Archives: Restructuring
I was expecting the call, I had been pre notified that a business I was following, was in real trouble and would shut down or be sold under duress within a week or so. It was Sunday night around 9:20 PM, I received a text from the founder and CEO saying he know it was...more
Business tip of the day: Always have realistic and accurate projections, with key indicators. Act on them as soon as you can. Be prepared don't just wait for it to hit you. Make the hard decisions today....more
Your hotel is not thriving as you have planned and the property is now in danger of going belly up. This problem could be caused by the general economy, new competition or over-leverage. If you are a hotel owner whose properties are in danger of financial ruin, you have your work cut out for you....more
GFCIB and Advisors, LLC, has once again successfully restructured a Hospitality Property in the Southern part of the Country. GFCIB exclusively represented the ownership in this financing restructuring workout. “This was a small Hotel that had significantly differed maintenance, as well as the income, had dramatically declined...more
We just settled a dispute for one of our long-time clients in the south. We had successfully done a number of financial restructuring assignments for this family-owned hotel, but this call for assistance from them was different than the services they usually request of us. They were in a dispute with, and sued their franchisor. Because our...more
The number one rule in a workout, turnaround or Bankruptcy is to stay very involved and have a “never give up” mindset. If your team, professionals and opposition see or sense that you do not have faith, energy or have abandoned the ship, then you're done. more
Avoid these top 10 workout and turn around mistakes.more
- Taking money out of your retirement account or other protected assets to prop up your business or investment.
- Not being involved, giving up, being undependable or acting like a goof ball. Your business is on the line, you...
After purchasing casual dining chain Fatburger in 2003, CEO Andy Wiederhorn fought for years to turn around the company's performance. But, faced with an ineffective management team and the recession, he finally resorted to Chapter 11 bankruptcy filings for two of the restaurant’s west coast subsidiaries in 2009. Since...more