in order to preserve the value of the operations of a group of 40 childcare centres. Rather than liquidating the business on in the traditional way, we implemented a realisation plan that was calculated and measured to focus on preserving value in the group.
Our role, as liquidators included overseeing the ongoing operational and financial management aspects of the group of subsidiaries that operated the centres, including licencing compliance, and staff management and mix. We implemented operational performance management processes which successfully allowed the group to continue to operate as normal for a short period of time and to whilst undergoing a group divestment program to be implemented.
Prior to the liquidation, the group was valued at $1. Olvera’s principal’s thoughtful approach to preserving value in a time of crisis generated significant benefits to stakeholders. At the end of our engagement and after the divestment of the business the group was able to repay its secured creditors in full (over $35mill) and provided a return to its holding company of over $30mill.
