An LTL trucking company had acquired two competitors, but quickly discovered incorporating operations was very challenging--so much so the enterprise's survival was threatened.

After defaulting on bank covenants, the client's board was advised by the bank to hire advisors to lead a restructuring effort.

The firms problems were complex, and involved a variety of operating, accounting and marketing practices. Management was restructured, and the new team endeavored to restore the firm's operations, but it was determined after protracted negotiations with creditors, that out right sale was in the best interest of the shareholders. Maximum value was achieved by selling the firm as three distinct operating companies. The sale was successfully completed inside of a chapter filing.