Case Studies
J.S. Held Acquires Element Forensic Engineering, Expanding Insurance-Focused Capabilities for Mid-Market and Large Loss Property Claims Across Canada
Read MoreA company that manufactures and distributes labor law compliance posters to businesses across all 50 states and the District of Columbia faced significant operational and financial uncertainty following litigation brought by the State of Washington under the state's Consumer Protection Act. The potential financial exposure associated with the litigation posed a substantial risk to the company's ongoing operations and its ability to continue serving customers nationwide.
To preserve the business and pursue a reorganization, the company filed for protection under Chapter 11, Subchapter V of the US Bankruptcy Code. During the restructuring process, the company's shareholders also filed personal bankruptcy petitions, limiting the availability of additional capital. With no secured lender or debtor-in-possession financing available, maintaining liquidity and positive cash flow became critical to sustaining operations and successfully completing the reorganization process.
We were engaged to serve as Financial Advisor during the Chapter 11 Subchapter V bankruptcy proceedings. Working closely with management and legal counsel, we implemented cost-reduction initiatives, including payroll adjustments during periods of lower revenue, and developed strategies to preserve liquidity and support ongoing operations throughout the restructuring.
Our team prepared detailed monthly cash flow forecasts and 5-year financial projections, evaluated restructuring alternatives, and assisted in developing the company's Plan of Reorganization. We also supported the company through all financial reporting and compliance requirements, including communications with the US Trustee and other key stakeholders throughout the bankruptcy process.
Given the expedited nature of the Subchapter V framework, timely execution was critical. Our team helped position the company for a successful reorganization by maintaining operational stability, preserving cash flow, and developing a confirmable restructuring plan. The company ultimately filed its Plan of Reorganization in September 2025, and the plan was confirmed without objection in October 2025, enabling the company to complete an expedited reorganization and continue operating as a going concern.
> 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.
> Solutions for Distressed Situations
We deliver integrated solutions for distressed and insolvent businesses that maximize recovery, mitigate risk, and restore enterprise value. Our experts are retained to help distressed organizations stabilize operations, protect stakeholder interests, and execute turnaround strategies. We take an operationally-focused approach that looks beyond the balance sheet to minimize further degradation and build a path to sustainable growth.
