Industry Insights

Pandemic Sparks Exponential Growth in Grocery Delivery Services

 By Pat Schuetz, Associate Director, MorrisAnderson & Associates Ltd. While the COVID-19 pandemic wreaked havoc on many industries in the global economy, e-commerce usage among everyday consumers skyrocketed during this unprecedented time. The increase in online purchasing was a direct result of the pandemic, as consumers opted to stay at home and rely on the

Saving Midmarket, Closely Held Companies With Traditional Workouts

Going back in time, in the middle market business world of insolvency practice, honest hard-working owners of companies that were over-leveraged but financially viable had tools available for restructuring the business while maintaining ownership. This was done in bankruptcy through a plan of reorganization or through an out-of-court restructuring with an agreement with the creditors.

The Inside Story of a Chief Restructuring Officer (CRO)

Chicago TMA members who are all Certified Turnaround Professionals (CTPs) will discuss the inner workings of being a CRO for a distressed company. The panel will cover a variety of mission-critical issues, including: 1. the reasons CRO’s are needed and what are their objectives; 2. the potential duties and responsibilities of a CRO; 3. who

MorrisAnderson’s Dan Dooley quoted in the S&P Global Market Intelligence

Morris Anderson’s Dan Dooley was quoted in the article “Corporate Bankruptcies Slow Again in Early April As Companies Find Ample Support”. Read the excerpt below and read the full article here. Real estate bankruptcies have so far lagged other industries during the pandemic, but a variety of factors continue to pressure the sector. Some retail

Middle Market Business Assessments and Restructuring in the New Normal

Re-Opening BusinessIndustries are slowly opening for business again after an unwanted hiatus to deal with the pandemic. Healthy companies are facing liquidity risks, business plans prepared Q4 2019 and Q1 2020 are obsolete. Companies that were having issues prior to Covid are in survival mode and may be losing the battle. To help preserve borrower’s

Protecting Viability for the Balance of 2020

Most companies are currently either shutdown or operating on a very limited basis. Once business is restarted, demand for product or service is unknown, the ability for suppliers to provide timely product is a question mark and will all the employees return? In other words, there are a mountain of risks and the question for

Saving Your Restaurant Group – March 27, 2020

The Restaurant Industry much like the Retail Industry has long had too many locations and too many brands that have no current reason to exist (ironically bankruptcy filings often call these “iconic” brands). Now that the impact of the Coronus Virus has shut down the majority of the restaurant business, we are going to see

Receivership Strategy When Risk is Long and Time is Short

Lenders are faced with difficult circumstances when a borrower’s business and the bank’s collateral is deteriorating.  The downward spiral often includes declining or negative earnings, insufficient cash flow, declining enterprise value, escalating trade debt and “tripped” financial covenants.  Further, management has not been able to reverse these negative trends and worse, have likely not been

Supply Chain Risk Is A Rising Tide

By Michael Boudreau CPA, CTP, CFF – November 2019 The auto industry moves the needle in many different geographic markets and it often trickles down to other commercial industries. Stress cracks at the OEM level often create shock waves down the supply chain which increases risk factors at the Tier I, II and III suppliers.

Beef Is Getting Pricier and You Can Blame Asia for That

By Kirk Maltais – Updated Oct. 17, 2019 1:09 am ET Cattle prices in the U.S. have risen since September, as a protein shortage in Asia drives bets that livestock will be in increasingly high demand. Live cattle futures on the CME are up 14% from the start of a rally on Sept. 10 to nearly $1.14 a

Pity the Poor Consignor: Term Loan Lender Prevails

July 2019 – Stephen Selbst In TSA Stores, Inc. v. Sport Dimension, Inc., the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) recently held that a term lender with a junior lien on the debtor’s inventory prevailed over a consignor that had failed to perfect its security interest under the Uniform Commercial

Bankruptcy Primer for the CRO

This presentation contains an outline of the bankruptcy primer for CROs which includes the retention of CROs and how to close a case.

Business Services – A Framework for Success

To understand the framework for success, one must understand the business services model and the fundamental layers of a business organization. This presentation contains an outline of the framework for success for any business and an in-depth explanation of SKU Tower.

Maximizing Estate Value in Wind Downs

To understand how to maximize the estate value in wind downs, one must understand today’s changing landscape, being realistic, and how to move quickly in a narrow window. This presentation contains information about keys to success, the pitfalls to success, how to assemble a core team, and what the hidden gems are. Click the slides

The Role of a Financial Advisor in Chapter 11 and Out-Of-Court Workouts

To understand the role of a financial advisor, one must know the qualifications and characteristics of a financial advisor as well as their numerous pertinent tasks. This presentation contains an outline of the tasks of a financial advisor. Click the slides to advance the presentation, and use the controls under the slides to view full

Mentoring Overview

To understand mentoring, one must first understand the concept of mentoring, including both the client’s perspective and the mentor’s perspective. This presentation contains an outline of the mechanics of how a mentoring program is conducted. Click the slides to advance the presentation, and use the controls under the slides to view full screen.

How to Sell a Distressed Business

To understand selling a distressed business, one must first understand the difference between distressed business purchases and traditional mergers and acquisitions. This presentation contains an outline of the key points on selling distressed businesses and what common mistakes buyers make when purchasing a distressed business. Click the slides to advance the presentation, and use the

Buying Distressed Businesses

To understand buying a distressed business, one must first understand the issues one may face when buying a distressed company and the common mistakes buyers make when purchasing distressed businesses. This presentation contains a summary of the different typical forums for distressed sales and the sale structure. Click the slides to advance the presentation, and

Liquidation and Sales: Alternatives to Chapter 7 or 11

To understand distressed businesses, one must know how to liquidate and distribute the assets of a financially distressed business in and out of court. This presentation contains a summary of the benefits of liquidating or selling a financially distressed business. This includes insight on trust agreements, common-law assignments, and what issues one may face. Click

Pre-Bankruptcy Planning

Before filing a business for bankruptcy, one must first understand the alternatives to filing and exit strategies. This presentation contains a summary of the key elements one should consider before filing their business for bankruptcy. Click the slides to advance the presentation, and use the controls under the slides to view full screen.

General Motors & the State of the Auto Industry

This presentation contains an in-depth analysis of how General Motors got in trouble, their restructuring plan, and the current market conditions of the auto industry. Click the slides to advance the presentation, and use the controls under the slides to view full screen.

The Restaurant Industry

To understand the restaurant industry, one must understand the different types of restaurants, customer trends, and the financial state of the industry. This presentation contains an outline of the turnaround levers that improve restaurant results and the factors that affect restaurants in distress. Click the slides to advance the presentation, and use the controls under

Trends and Issues in Middle-Market Workouts

This presentation contains an outline of the eight major trends and issues in middle-market workouts along with thoughts on lender tactics. Click the slides to advance the presentation, and use the controls under the slides to view full screen.

The Uniqueness of a Family Owned Business

Understanding why companies underperform, what the signs of trouble are, and how to stay out of financial distress can help one’s family-owned business to remain in operation and successful. This presentation contains information on how family-owned businesses are different and how to avoid underperforming. Click the slides to advance the presentation, and use the controls

Turnaround Consulting

This presentation contains an outline of Turnaround Consulting and MorrisAnderson’s process.

How to Hire the Right Financial Advisor

Before you hire a Financial Advisor, you need to know how to find the right one for your needs.This presentation contains an outline of why you may need a financial advisor and how to hire the right one.

The ABCs of Printing

To understand printing, one must first understand the various printing methods used today to print a product. This presentation contains an outline of the printing process then a pictorial of the printing process.

How Casual Dining Restaurants Can Take Back Their Lunch

Anyone eating at an Applebee’s, Buffalo Wild Wings, Chili’s, Olive Garden, Outback Steakhouse, Ruby Tuesday, or TGI Fridays is patronizing a casual dining restaurant. Casual dining establishments provide table service and have “price points of approximately $15 per meal” and “menus with a much wider range of choices” than the hand-held food offerings of quick-service

Healthcare Workouts – Unique Attributes (Video)

Ken Mann sits down with Dan Dooley, CEO of MorrisAnderson, to discuss the unique attributes you will find in a restructuring case involving a healthcare business, including the fact that people frequently die. In about ten minutes, you can get a little smarter about: • Accounts Receivable Issues • Differences in Corporate Structure and decision

Retail Restructuring 101

How many times have you heard or read some variation of that claim from “experts” over the last year? Last time we checked, consumers still need or want goods and they need to purchase those goods somewhere. The question is, where?


By Russell C. Silberglied, Director & Nathaniel J. Stuhlmiller, Associate, Richards, Layton & Finger, P.A. Introduction Many companies are “too broke to go bankrupt.” As the “ABI Commission to Study the Reform of Chapter 11”[1] notes, “anecdotal evidence suggests that Chapter 11 has become too expensive (particularly for small and medium size enterprises),” and more