March 24, 2009
Inglewood is appointed as Financial Advisor to Player Wire Wheel
Player Wire Wheel is in the wholesale and retail automobile wheels and tires business with revenues reaching $47 million. The company began to experience operational issues and in late 2008 experienced the death of its founder and owner. The company’s bank effectively froze its line of credit, subsequently leading to the company’s filing for bankruptcy protection.
Inglewood is to provide turnaround management for Player Wire Wheel. Specific duties include the assistance with the preparation of reports and filings with the Bankruptcy Court, review and distribution information to creditors, assist and advise in the negotiations with lenders and other creditors, and evaluate the reorganization strategy and alternatives available.