Trendset, Inc

Situation Trendset Incorporated (Inc.) was a major provider of freight audit and payment services located in Greenville, South Carolina. It provided bill payment services and by 2013 had invoices with a value of around $10.75 billion. Trendset was caught up in an embezzlement scandal that cost the company $68 million in lost earnings and owed $70 million in unsecured claims. GGG were engaged as trustees to follow through on a Chapter 11 Bankruptcy in May 2014. At the time, the Company had just $40,000 in unrestricted cash and $150,000 owed in Payroll due just 10 days after the engagement. Action GGG immediately implemented customer surcharge measures in order to supplement [...]

2017-11-25T16:27:24+00:00 Bankruptcy, Financial, Sale, Trustee|