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Interactive Website Developer

J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida

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The Situation

The client was a $50 million Developer and Host of Interactive Websites based in Pennsylvania.

Due to the near-total loss of its market during the tech bubble collapse, the Company’s lenders became nervous and wanted an outside, third-party expert to assess the situation and recommend an appropriate course of action.

How We Advised

Our experts conducted an operational assessment, acted in interim management roles as CEO and CFO, and concluded that the Company would require a significant cash infusion to continue in its current form. We acted as bankruptcy advisors and managed the liquidation and wind-down of the business. Due to our actions, the senior lender achieved a total recovery of its loan balance following the successful liquidation and sale of the business.

Key Contact

Brian F. Gleason, CTP 
Senior Managing Director 
Strategic Advisory Practice 
+1 610 659 8118 
[email protected] 

Related Practice Areas

> Bankruptcy Advisory 
Navigating bankruptcy is inherently complex, often involving struggling businesses, litigation, incomplete or inaccurate financial records, potential fraud, and other challenges, in addition to strict court-mandated processes. Our experienced team of turnaround and restructuring experts seamlessly guides clients throughout the process to optimize outcomes for lenders, creditors, shareholders, and employees. 

 

> Business / Operational Assessment 
Most consulting firms approach a business assessment from a purely financial perspective — our assessments provide a 360° view of a business, addressing growth drivers, profitability, and uses of capital. Along with detailed financial performance reviews and cash flow forecasting, our comprehensive Business / Operational Assessment identifies the various challenges clients encounter throughout their operations. 

 

> Chief Restructuring Officer (CRO) and Interim Management Services 
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value. 

Our Experts