From Struggling to Thriving: Guiding a PrimeEco Group, a Family-Owned Chemical Blending Business, Out of Chapter 11 Bankruptcy Have you ever wondered how some businesses manage to turn their fortunes around and go from struggling to thriving? It's not an easy feat, but with the right expertise and guidance, it is possible.
Abunden specializes in helping small and mid-sized companies in the industrial and energy supply chain to get the funding they need to get out of tough situations.
Karl Maier was able to guide PrimeEco Group, a specialty chemical blending business, out of bankruptcy despite a list of challenges:
The business was too small to expect to pay for the court costs of Chapter 11.
One of the lenders was threatening to foreclose on the company's land and building.
The world economy was still dealing with the COVID-19 virus.
The company had a fire that burned one of its buildings to the ground during the process.
Karl Maier was able to use his turnaround certification (Certified Turnaround Analyst) certification to gain the approval of the bankruptcy court to work with the company during the bankruptcy process.
He helped the Guzman (Fernando, Rosario and Felipe) family to see the path forward during a dark and stressful period. This involved keeping suppliers, customer and key creditors informed and on board with the turnaround plan. As difficult as this was, at times the hardest part was keeping the family from giving up!
Through their strategic financial planning and fundraising efforts, Abunden was able to raise an additional $2 million in funding for their client, enabling them to successfully navigate the bankruptcy process and emerge stronger than ever. This success story demonstrates Abunden's ability to provide critical support and guidance during challenging times, helping businesses overcome financial obstacles and achieve long-term sustainability. This example of turning around businesses and their expertise in securing debt or equity investments make them the ideal choice. Don't let cash flow problems hold you back.
