Fussy Cleaners operated a chain of dry cleaning stores in Northern Ohio and was profitable until late 2007, when the company acquired a competitor bringing it up to 40 locations. Unfortunately, this was a very poor acquisition that ultimately, along with the failing health of the owner, caused the company to agree to be placed in receivership. In the course of this case, Inglewood:

• Oversaw the day-to-day operation of the business;
• Coordinated the due diligence process with the proposed buyer;
• Contacted and assessed the prospects that alternative buyers could close a transaction in sufficient time;
• Dealt with numerous secured and unsecured creditors;
• Dealt with the numerous landlords for the closed locations, coordinating the removal of equipment and the turnover of the premises;
• Prepared an analysis for the Court demonstrating how the sale of the operating assets was in the best interest of all stakeholders;
• Assisted with the sale of the operating assets of the business, which closed three weeks after Inglewood’s initial appointment; and
• Identified a buyer and sold the non-operating assets of the business.