Schafer and Weiner Helps Sell Auto Dealership as a Going Concern, and Preserve 32 Jobs

August, 2018

Daniel J. Weiner and Leon N. Mayer helped an auto dealership client preserve and maximize value in a complicated out of court SBA loan workout.   Schafer and Weiner was retained when the bank was ready to foreclose and liquidate dealership assets – actions that would have destroyed value and cost all employees their jobs.

Mr. Weiner and Mr. Mayer designed and executed a customized plan to preserve the dealership’s going concern value and minimize its loan deficiency by reaching creative and strategic arrangements with the bank, potential buyers, the OEM, junior secured lenders, and other stakeholders.   Securing a lengthy forbearance period from the bank without any payments gave the dealership breathing room to negotiate and consummate a short sale.  With Schafer and Weiner’s guidance, the dealership was sold, its going concern value was preserved, and 32 jobs were saved.