Cordes & Company

Sawmill turnaround

The mill is the largest remaining sawmill in Colorado and it plays a critical role in U.S. Forest Service efforts to preserve forest health and prevent wildfires.  In particular, the mill has processed timber killed by the mountain pine beetle infestation.  Overwhelmed by its debts and the economic downturn, the mill defaulted on its loans in 2010.  The lender retained Cordes & Company as receiver to take control of its collateral.  The mill had been shut down and most of its 95 employees laid off.  We got the sawmill running, re-hired a workforce and located appropriately priced sources of timber.  Before long, the mill was generating positive cash flow and a significant amount of the lender’s debt had been recovered.  Cordes & Company was able to attract a number of qualified buyers to bid on purchasing the mill as a going concern, retaining jobs in rural Colorado.

California
2030 Main Street
Suite 1600
Irvine, CA 92614
Telephone: 949.379.1202
Colorado
5299 DTC Boulevard
Suite 815
Greenwood Village, CO 80111
Telephone: 303.721.8755
Minnesota
220 South 6th Street
Suite 2125
Minneapolis, MN 55402
Telephone: 612.455.6027
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