Special situations
Financial pressure, a court process or competing stakeholder needs can narrow the options. Millsite helps identify an executable path and manage the transaction with urgency and care.
Discuss a situationThe mandate
Millsite works with owners, lenders, receivers, trustees, boards and their professional advisers. The starting point is an assessment of the business, its liquidity, the claims and interests around it, and the time available for a decision.
From there, the work may call for a targeted sale, a wider market process, a financing alternative or an orderly disposition of assets. We coordinate closely with legal and operational advisers as the situation requires.
Workouts, negotiated sales and financing alternatives pursued directly with lenders and counterparties. These paths tend to be faster, more private and less costly than a formal proceeding, and are often the first alternative worth testing.
Sale processes conducted through receivership or Chapter 11, including §363 sales that transfer assets free and clear of most liens and claims. Court oversight brings a structured, competitive process and added certainty for buyers, at the cost of more time and expense.
Assignments for the benefit of creditors, Article 9 dispositions and trustee-led sales. Governed by state law rather than the Bankruptcy Code, these processes can move quickly and with less public visibility than a formal filing.
Signs it's time to talk
A lender has flagged a default or is requiring a waiver, and the next conversation with them matters.
A refinancing or new capital raise didn't come together on the timeline the business needed.
A debt maturity is coming due without a clear path to refinance or extend it.
Cash on hand and near-term collections aren't enough to comfortably cover upcoming obligations.
The loss of a major customer, contract or supplier has changed the business's outlook.
A sale or financing needs to close on a timeline shorter than a typical process allows.
How we work
Assess. Establish the available transaction paths and the constraints that could change them. This includes an honest read on liquidity runway, lender and stakeholder positions, and how much time is actually available before options narrow.
Prepare. Organize financial and operating information, develop the investment story and address diligence issues early. Moving quickly here matters: the businesses that preserve the most value are the ones that are ready before the market process begins.
Reach the market. Identify qualified strategic and financial parties, then run an outreach process suited to the required speed and confidentiality. Where time allows, that means a competitive process; where it doesn't, a targeted approach to the buyers most likely to move quickly.
Execute. Evaluate proposals, coordinate diligence and negotiations, and keep the transaction moving through close. Throughout, we coordinate closely with legal counsel, lenders and other stakeholders whose consent or cooperation the transaction requires.
Selected experience
Millsite brings experience with transactions involving receiverships, Chapter 11 and assignments for the benefit of creditors. The anonymized case studies show how that experience is applied in pressured processes.
Read the case studiesConfidential contact
Speak with Millsite about the decision, the parties involved and the time available.
