Inglewood Appointed Financial Advisor to Player Wire Wheel
Player Wire Wheel, a $47 million wheels and tires business in bankruptcy, appoints Inglewood as financial advisor to provide turnaround management.
Player Wire Wheel has appointed Inglewood as its financial advisor, engaging the firm to provide turnaround management as the company works through bankruptcy proceedings.
Player Wire Wheel is a wholesale and retail automobile wheels and tires business with revenues reaching $47 million. The company began to experience operational issues, and in late 2008 its founder and owner died. The company's bank effectively froze its line of credit, and Player Wire Wheel subsequently filed for bankruptcy protection.
Scope of the Turnaround Management Engagement
Inglewood will provide turnaround management for Player Wire Wheel. Specific duties include:
- Assisting with the preparation of reports and filings with the Bankruptcy Court
- Reviewing and distributing information to creditors
- Assisting and advising in negotiations with lenders and other creditors
- Evaluating the reorganization strategy and the alternatives available to the company
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