New England Motor Freight voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey in Newark. Phoenix Management Services will serve as the company’s restructuring advisor through the bankruptcy process.
While lenders carefully scrutinize companies seeking to borrow money, borrowers rarely exercise the same due diligence to screen potential lenders. No one embarks on a business venture planning to fail, but it does happen. Bayard Hollingsworth advises borrowers to investigate the ways lenders handle a deal that goes wrong before accepting other people’s money.
Predictor of Success Following a Turnaround: Discipline Tools Can Keep a Company Afloat After Restructuring
Completing the restructuring process is a challenge for both a company and the turnaround professional who guides it through. Yet some companies may show signs of failing a second time. Brian Gleason illustrates how using the discipline tools introduced during turnaround can keep the ship afloat, even in rough waters.
Phoenix Management Services announced that Michael Jacoby, senior managing director and shareholder of the firm, will be inducted to The American College of Bankruptcy as a fellow.
Business advisory firm Phoenix Management Services announced that 2015 marks a milestone as it celebrates its 30th anniversary.
Phoenix Management Services announced the sale of Phoenix Payment Systems to North American Bancard was named the M&A Distressed Deal of the Year.
The Phoenix Management Q2/13 “Lending Climate in America” survey revealed waning lender optimism; however, sentiment has taken a more positive turn over the last 12 months. The Q2/14 survey indicates that despite a few signs of caution, lenders are increasingly optimistic about the U.S. economy and commercial lending on a near-term and long-term basis.