Send the Light

Situation With the emergence of Amazon, this Christian book wholesaler found a lot of its customers, independent Christian bookstores, going out of business. The debt holder wanted GGG to go in as the Receiver, in the hope that it would get 50% of its money back. Also, there were some personal guarantees on equipment purchases that needed to be addressed on behalf of the business owners. Action As the receiver, GGG took the following steps: Developed a plan for the liquidation of the inventory including when and how to implement discounts and negotiate bulk sales with other wholesalers. Designed and implemented a staff reduction and retention strategy to ensure costs [...]