Bankruptcy Lawyers Jacksonville

CHICAGO, May 12 /PRNewswire/ — SIRVA, Inc., a global relocation
services provider, announced that its Plan of Reorganization became
effective today, ending its Chapter 11 case and marking the Company’s
emergence from bankruptcy.

SIRVA’s Plan of Reorganization is the result of an agreement the
Company reached in February with its lenders, who overwhelmingly supported
its Plan of Reorganization. SIRVA’s exit financing consists of a $215
million senior secured credit facility, which will be used to fund ongoing
operations and borrowings. Effective immediately, SIRVA will become a
private company, and its stock will no longer be publicly traded.
About SIRVA, Inc.
SIRVA, Inc. is a leading provider of relocation solutions to a
well-established and diverse customer base around the world. The Company
handles all aspects of relocation, including home purchase and home sale
services, household goods moving, mortgage services and home closing and
settlement services. SIRVA conducts more than 300,000 relocations per year,
transferring corporate and government employees along with individual
consumers. SIRVA’s well-recognized brands include Allied, Allied
International, Allied Pickfords, Allied Special Products, DJK Residential,
Global, northAmerican, northAmerican International, SIRVA Mortgage, SIRVA
Relocation and SIRVA Settlement.

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By KAREN BRUNE MATHIS, The Times-Union

Winn-Dixie Stores’ bankruptcy reorganization might have been painful, but it also was gainful for organizations that want to avoid the experience.

As seen in USA Today. Save up to 75% at pharmacies nationwide. Download free card online in minutes. Save on brand and generic drugs at your local drug store. Non-profit. Official site.

There’s a lot of profit in lessons learned at someone else’s expense.

Turnaround adviser Holly Felder Etlin of Alix Partners in New York and lawyer Cynthia Jackson of Smith, Hulsey & Busey in Jacksonville worked with Winn-Dixie in the reorganization.

“It was a really wild time,” Etlin says.

They offered insights at a joint meeting Thursday of the Turnaround Management Association and the Association for Corporate Growth.

Here are the basic lessons that could apply to just about any organization.

First, recognize and admit problems.

Increasing competition, declining store or product appearance and customer dissatisfaction are three signals that business might not be going well and needs intervention.

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