August 18th, 2014
GuideSource first assisted clients who had previous sold their business via a seller-financed agreement. The buyers had defaulted on the agreement and had continued to operate in default for multiple years. GuideSource was engaged to review the current business conditions and develop options. After review, it began clear that the clients’ collateral, the business itself, was at risk of further decline. GuideSource worked with its client and counsel to run a foreclosure sale to take the business back. Then, GuideSource worked to find a buyer for the business. After receiving multiple offers for the business, the clients selected their buyer. GuideSource worked with the buyer to close the cash deal.