Turnaround and Restructuring Services

Out-of-Court Winddowns

J.S. Held adquiere GLI Advisors para fortalecer sus servicios de apoyo a proyectos de construcción en el oeste de EE. UU. y Hawái

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We deliver strategic guidance through the winddown of business operations or underperforming assets, helping preserve value and reputation while avoiding the disruption, cost, and public scrutiny of formal bankruptcy.

Our expert financial and operational advisors apply decades of experience providing exit solutions across a wide range of industries and complexities to deliver, and often execute, comprehensive solutions for distressed businesses.

Every winddown engagement presents distinct complexities, from navigating sensitive stakeholder dynamics to unwinding operational and financial commitments. For many boards of directors and business owners, a structured and orderly winddown is the often most cost-effective path forward and often yields higher recoveries for creditors and lenders than bankruptcy. Our turnaround and restructuring professionals lead with precision and discretion, managing each phase of the process to ensure a controlled exit that preserves enterprise value, protects reputations, limits liability, and maintains stakeholder relationships.

Our Business Winddown Services
  • Analysis of Raw Materials and WIP to Determine Finished Goods Conversion
  • Asset Sales and Going-Concern Sales
  • Budget and Timeline Development
  • Collection of Accounts Receivable
  • Communication with Company Stakeholders, Lenders, and Creditors
  • Fund Distribution
  • Landlord and Vendor Negotiation
  • Liquidity and Cost Management
  • Operational Oversight and Management
  • Staff Reduction Strategy Development and Execution
  • Winddown Strategy Development and Execution
Benefits of an Out-of-Court Winddown Over Bankruptcy

An out-of-court winddown may be a more strategic alternative than formal bankruptcy-allowing boards of directors and business owners to maintain control, protect reputational capital, and unlock greater value for creditors and equity holders through targeted asset sales and structured operational closures. This approach is particularly effective when a company has a manageable creditor base, limited litigation exposure, and sufficient liquidity to support an orderly exit.

Unlike a court-supervised process, a well-executed winddown offers flexibility, discretion, and the potential for higher recoveries. Our turnaround and restructuring experts guide clients through every phase of the process, delivering tailored solutions that minimize disruption and maximize stakeholder outcomes.

Our Comprehensive Business Winddown Expertise

With extensive experience in business winddowns and restructuring, our winddown services are designed to combine strategic insight with operational execution for companies navigating distress or insolvency.

Our services are specifically designed to help distressed businesses pursue orderly exits that maintain discretion and achieve optimal financial outcomes at a generally lower cost compared to formal bankruptcy. 

Our winddown capabilities include:

  • Customized Winddown Strategy Development
    We develop tailored exit plans that reflect the unique financial, operational, and stakeholder dynamics of each engagement, including detailed budget and timeline plans to ensure transparency and control.
  • Budgeting and Timeline Development
    We establish clear, actionable plans that align with liquidity restraints and operational realities, ensuring transparency and control throughout the engagement.
  • Operational Oversight and Execution
    Our experts provide hands-on management to wind down operations with minimal disruption and maximum efficiency.
  • Liquidity and Cost Management
    We work with the distressed business to preserve cash and control costs, extending the exit runway and supporting orderly closure.
  • Stakeholder, Lender, and Creditor Communication
    We serve as the main point-of-contact between parties, managing sensitive negotiations and maintaining transparency to preserve trust and minimize friction.
  • Reputation and Brand Preservation
    Throughout the process, we protect the legacy of the business through discreet execution and thoughtful stakeholder engagement.
  • Staff Reduction Strategy Development and Execution
    We design and implement workforce transitions with empathy, compliance, and strategic clarity.
  • Legal and Regulatory Compliance Advisory
    Our restructuring experts help navigate complex legal landscapes to mitigate risk and ensure full compliance throughout the winddown.
  • Strategic Asset Sales and Going-Concern Transactions
    When appropriate, we help clients maximize value through targeted divestitures and sale processes, specifically tailored to their unique market dynamics and stakeholder priorities.
  • Fund Distribution
    We ensure equitable and efficient allocation of proceeds in alignment with fiduciary obligations.

Our structured approach empowers boards of directors and business owners to exit with confidence, knowing their winddown is being handled with professionalism, empathy, and integrity.

Helping Distressed Businesses Navigate Insolvency Alternatives

While a structured winddown can be the most effective solution under certain conditions, it is just one of several strategic options available to companies navigating distress.

With experience across thousands of insolvency, turnaround, and restructuring engagements, our team helps clients navigate complex financial and operational challenges to identify the most effective path forward. Each bankruptcy process has distinct characteristics and implications in value recovery, stakeholder dynamics, and fiduciary obligations. Leveraging our deep expertise, we deliver practical, outcome-driven guidance to help clients navigate complexity, preserve enterprise value, and fulfill fiduciary responsibilities to creditors and shareholders.

Click below to learn more about our turnaround and restructuring expertise across key insolvency processes:

Para obtener información adicional sobre nuestros servicios y para ponerse en contacto con el experto indicado de nuestro equipo global, comuníquese con:

Michael E. Jacoby
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Michael E. Jacoby
Director ejecutivo sénior | Director de la práctica de Asesoría Estratégica
 
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