Client: Janitorial Maintenance
Situation: A turnaround advisor who had previously worked for a client of Prestige was hired by a bankruptcy trustee to assist in obtaining Debtor in Possession (DIP) financing for this 7 entity holding company.
Need: These companies had been self- funded. However, needed relief and financing due to a large federal tax lien.
Solution: Within 5 business days, Prestige provided the DIP financing needed to keep the company operational while developing its plan of reorganization.