Receiver for Truck Repair Company Which Was Improved and Ultimately Sold
Inglewood was recommended as receiver by the bank and accepted by the company based on Inglewood's reputation. This was an extremely contentious situation where the company's owner was at extreme odds with its primary lender, but the owner also had lost the confidence with its vendor base. Sales had dropped due to the inability to buy product even for cash in advance and a lack of funding by the bank that held the cash under full dominion. Inglewood was able to recommence the flow of product and was able to obtain cash to pay for that product. As a result, sales increased dramatically. Ultimately, the company was sold and many of the employees retained their jobs.