CONFIRMED DATE: February 2017
ROLE: Financial Advisor to the Official Committee of Unsecured Creditors
Prestige Industries, LLC is a commercial laundry company, with two facilities in New Jersey, that provides laundry services in the greater New York City area. Province was hired by the official committee of unsecured creditors to assess and monitor the going concern sale process given our familiarity with the buyer universe. In addition, Province has been responsible for analyzing various cash and DIP budgets and negotiating with the Debtor in order to balance value conferred to certain key insiders while preserving estate value. Province also has assisted the Debtor in reviewing various operations and plant consolidation strategies to optimize bidder interest and valuation.