October 6, 2020
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In This Edition...

Urgent situation M&A is getting busier. This week’s edition covers sales being run Bob Handler and John Servatius of Commercial Recovery Associates; by John K. Lane of Inglewood Associates LLC and McDonald Hopkins (Michael Kaczka and Maria G. Carr); and by Gino Demonte of Piper Sandler & Co. Also in this edition, an excellent article about a non-debtor’s rights in the context of executory contracts in bankruptcy by David Lorry of Versa Capital Management. Finally, we include some resources and educational opportunities.
 

Public Notices Re Sales of Two Food Businesses

Investment bank Piper Sandler is soliciting bids for two separate two food businesses. One is a leading distributor of food products and other goods to U.S. cruise lines. The other is a seafood and Asion food wholesaler and grocer. Bidders for the first company can bid for the entire company, segments, or a majority equity stake. Seller wishes to conclude sales in the first week of November. Read more information on DailyDAC.
 

Public Notice of Assignee Auction: M-Wave International, LLC and M-Wave Music Products, LLC

These companies are nationwide electronic circuit board assemblers specializing in low-volume, high-mix assemblies for select customers in Fire & Safety, Emergency Back-up, Industrial Smart Lighting, Restaurant Equipment, Music Products and OTC Medical Devices. Competitive bids must satisfy the following requirements on or before 4:00 p.m. CST on October 22, 2020.
Read more information on DailyDAC.
 

Public Notice of Receivership Sale: American Heritage Billiards

The Receiver (John K. Lane) over American Heritage Billiards, LLC (“AHB”), a distributor and seller of billiard tables, other recreational products, and furniture is accepting overbids for substantially all AHB’s assets until 12:00 p.m. (EST) on October 12, 2020. Read more information on DailyDAC.
 

A Non-Debtor Perspective on Executory Contracts

You have a lease or other contract with a company. The company files bankruptcy and it becomes a debtor-in-possession (“DIP”) or a trustee is appointed. Either way, the Debtor or DIP has a lot more leeway to jerk you around than the company did before the bankruptcy. If you are a non-debtor counterparty you need to understand your rights and the limits of the DIP’s/trustee’s rights.
 

Free Webinar: Buying, Selling & Working Out Distressed Assets in a Post-Pandemic Environment. 10 am CT on 10/14

Hosted by Professor Ronald M. Shapiro, Assistant Professor of Professional Practice at Rutgers Business School, this webinar will assist real estate owners, lenders, mortgage brokers, and other market participants navigate and negotiate distressed transactions. Learn more or register here. Brought to you by Financial Poise Productions™.
 

Provide Public Notice for Your Sale

What do public sales under the Bankruptcy Code, Article 9 of the UCC, by receivers, and by assignees have in common? They all require commercially reasonable public notice. If you represent a debtor, foreclosing creditors, receiver, or assignee, DailyDAC can help. Read more.
 

Do You Need to Quickly Know About Every New Chapter 11 Filing?

DailyDAC can help with that too, at no cost.
Learn about our Chapter 11 Alert System.
 

How to Save (or Buy) a Financially Distressed Business

This webinar is a must-attend for the owner/operator/board member of any struggling business, or any trusted advisor who counts such businesses as their clients. Learn more or register here.
Latest Deals Added to the Opportunistic Deal Database
The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.

Secured Party Sales

  1. 9 Lots & 60 acres of underdeveloped land - (25338)
  2. Independent film & television company - (25342)
  3. Tree care & landscaping contractor - (25339)
  4. Oil & gas property (w/real estate) - (25340)
  5. Five real properties - (25341)

Private Company Sales

  1. Industrial automation company (w/patents) - (25349)
  2. Industrial Tooling & Machining business - (25348)
  3. Marine parts import/export business - (25351)
  4. Machine welding & fabrication shop - (25352)
  5. Food manufacturer & distributor - (25350)

Assignment for the Benefit of Creditors Sales

  1. Heavy civil engineering construction company - (25288)
  2. Health education services provider - (25290)
  3. Perfume & beauty products retailer - (25287)
  4. Fashion jewelry retailer - (25289)
  5. Motorcycle dealership - (25286)

Chapter 11 - 363 Sales

  1. Inventory - jewelry, watch & diamond retailer - (25357)
  2. Furnishings, antiques & collectibles - (25355)
  3. 17.4 Acres, offered in 3 Tracts - (25353)
  4. Industrial equipment & vehicles - (25354)
  5. Golf course (w/equipment) - (25356)

Chapter 11 - Investment Banker Application Filed

  1. Personalized clothing subscription business - (25298)
  2. Business process outsourcing business - (25300)
  3. Exploration & production company - (25302)
  4. Transportation services business - (25301)
  5. Commuter bus terminal - (25299)

Chapter 11 - Case Filing Indicates Future Asset Sale

  1. Data storage services provider - (25304)
  2. Gasoline engine manufacturer - (25303)
  3. Hydroelectric power plant - (25305)
  4. Real estate developer - (25306)

Chapter 7 - Sale of Business Assets

  1. Historic commercial property - 5,040 sq. ft. - (25359)
  2. Material handling equipment - Multiple lots - (25360)
  3. Commercial farmland - 26.90± acres - (25362)
  4. Waterfront development property - (25358)
  5. Three waterfrontage lots - (25361)

Chapter 12 Bankruptcy

  1. Farming equipment - Multiple lots - (25309)

Rating Agency Alerts/Other Signs of Distress

  1. Internet & entertainment services provider - (25330)
  2. Seismic data services provider - (25327)
  3. Hospitality services company - (25332)
  4. Luxury hotel & resort chain - (25331)
  5. Global technology company - (25328)

Auctions

  1. Passenger transportation business (w/equipment) - (25282)
  2. Custom metal fabricator & finisher - (25281)
  3. Party & rental equipment business - (25283)
  4. .5 Megawatt Capacity Microgrid - (25284)
  5. 2.9+ acre waterfront site - (25285)

Other Interesting Sales

  1. Operating type 6 ethanol manufacturer - (25336)
  2. Branded gas station (w/property) - (25337)
  3. Farming equipment & repair shop - (25333)
  4. Mixed use development property - (25335)
  5. 80 acre farm for cultivation - (25334)

Bulk Sales

  1. Full-service restaurant (w/equipment) - (25291)
  2. Coin laundry services business - (25292)
  3. Commercial painting business - (25296)
  4. Commercial beverage license - (25293)
  5. Optometry practice - (25295)
  6. Yoga studio - (25294)

Receiverships

  1. Healthcare/assisted living facility - 22,215 sq. ft. - (25346)
  2. Industrial property - 85,688 sq. ft. - (25343)
  3. Retail property - 20,600 sq. ft. - (25345)
  4. Retail building - 4,676 sq. ft. - (25347)
  5. 68 Unit Mobile Home Park - (25344)

Mass/Significant Layoffs

  1. Transportation equipment manufacturer - (25314)
  2. Aerospace services company - (25315)
  3. Biopharmaceutical company - (25310)
  4. Offshore drilling plant - (25312)
  5. Entertainment venue - (25313)
  6. Copper refinery - (25311)

Plant/Facility Closings

  1. Ball & roller bearing manufacturer - (25319)
  2. Commercial gravure printer - (25318)
  3. 26 year old golf retailer - (25320)
  4. Fire truck manufacturer - (25316)
  5. Home decor retailer - (25317)
View All Deals on DailyDac.com
 
DailyDAC, LLC
1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
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