New Growth Advisors was recently appointed receiver in Clermont County Common Pleas Court of an operating self-storage facility in Milford, Ohio operating as Milford Fortress Storage after a large, national lender referral. NGA operated this medium sized self-storage operation, increased tenancy and monthly operating cash flow and sold the going-concern…
Ashley Brooks, Inc. and Golf Course Management (Bethel, Batavia and Amelia, Clermont County, Ohio)
NGA Role • NGA was appointed receiver over two golf courses, a closed manufacturing operation and associated real estate including a residential property on the manufacturing premises. Problem • Need to liquidate the manufacturing operation. • Sell off the manufacturing and residential real estate. • Operate the Batavia golf course…
P&D Marble and Granite, LLC (Batavia, Ohio)
NGA Role • NGA was appointed receiver in the Clermont County Common Pleas Court. Problem • This company had ceased operation and its secured creditor had begun foreclosure proceedings. • Secured creditor sought a receiver to secure the real estate and liquidate the personal property and real estate. NGA Solution…
Executive Suites Plus, LLC (Beavercreek, Ohio)
NGA Role • NGA was appointed receiver by the Common Pleas Court of Greene County, Ohio. Problem • Former owner of this business sold the operation but continued to hold a secured debt owed by the operation and also guaranteed the lease of the operating entity to it landlord. The…
Ole Fort IGA, Logan Street IGA and 709-711 Black Eagle Drive (Fort Recovery, and Celina, Mercer County, Ohio)
NGA Role • NGA appointed receiver by Mercer County Common Pleas court over the operating grocery store in Fort Recovery, Ohio and the shuttered former grocery store property in Celina, Ohio. • Subsequently the owner’s residential property was added to the receivership at the request of the secured creditor to…
Phoenix Formations, Inc. (Cincinnati, Ohio)
NGA Role • NGA was initially approached by the senior secured creditor in this matter to act as court-appointed receiver to operate the business and liquidate its assets. • NGA was appointed by the Hamilton County Common Pleas Court to maximize the recovery of Phoenix Formations assets for all creditors.…
Trade Show Display Company (Hebron, KY)
NGA Role • NGA having recently completed the liquidation of Phoenix Formations was sought for this engagement of a similar business. • NGA was engaged as liquidation agent for the secured lender to this defunct business in order to maximize the recovery of asset value. Problem • Trade Show Display…
Tekaho, Inc. d/b/a Alaska Acres Care Center (Cincinnati, Ohio)
NGA Role • NGA was appointed receiver in Hamilton County Common Pleas Court to operate and recommend to the court the whether the facility would be closed, sold as a going-concern or some alternative outcome. Problem • This 68 bed skilled long-term care facility was operating at too low a…
South Ross, LLC (Brown County, Ohio)
NGA Role • NGA was appointed receiver in Brown County court to operate and sell two car washes; one in Fayetteville, Ohio and the other in Mt. Orab, Ohio. Problem • Management mismanaged these car washes and stopped making their secured creditor payments. • Secured creditor foreclosed and asked for…
Fortress Storage Receivership (Milford, Ohio)
NGA Role • NGA appointed as receiver over the real estate of this company by Clermont County Court of Common Pleas. Problem • Distressed self storage facility needed to be managed on a day-to-day basis, revenues and profits increase and sold along as a going concern. NGA Solution • NGA…
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