John Cope’s Food Products, Inc. – This 100-year-old frozen vegetable processor had recently emerged from chapter 11 but was not adequately funded and had seen sales deteriorate significantly. The secured creditor sought a liquidation and a bankruptcy filing was looming when SC&H Capital was retained.
SC&H obtained a 60-day forbearance from the secured creditor, avoiding a liquidation, and then quickly generated two going concern bids – the value of which exceeded any liquidation estimate. The business was sold to a buyer that was familiar with the company, and operations continued with minimal disruption.
