Challenge: Founded on commercial build-out and renovation projects, Payton had posted 20 years of annual profits since it’s inception. To grow the business, management made a critical mistake and bid on its first major ground -up project, a Marriott Hotel. 10 months into the project the losses were staggering, and as a result the Company filed for protection under Chapter 11.
Solution: Hired as financial advisor to the Debtor to act as construction manager and director of finance to manage the orderly wind down of the Company and oversee the outstanding construction projects.
Results: Successfully negotiated with subcontractors, suppliers, and sureties to complete projects at Mass General Hospital and Fidelity office complexes. Ultimately hired a firm to manage the wind down of the Company with approval of the creditors and sureties involved.