Industry

Manufacturing | Fabrics & Synthetic Fibers

DSI'S Role

Chapter 11 Trustee

Services Provided

  • Sale of Assets
  • Business Plan Analysis
  • Crisis & Interim Management
  • Due Diligence
  • Financial Restructuring

FOSS MANUFACTURING COMPANY

Case Highlights

  • Restated historical financial statements and prepared financial projections
  • Sold company as a going concern
  • Maximized recovery and saved U.S. manufacturing jobs

Case Narrative

Foss Manufacturing Company, maker of non-woven fabrics and specialty synthetic fibers, was in a state of chaos as a result of financial fraud and mismanagement.

DSI was appointed Chapter 11 Trustee of this New Hampshire-based operating company, after allegations of fraud and mismanagement.  As Trustee, DSI was able to bring calm to the company’s customers and employees. DSI restated historical financial statements and prepared projections which allowed for the company to be sold as a going concern, which not only maximized value for creditors but also saved U.S. manufacturing jobs.