A Denver tire and wheel operation defaulted on its operating loan to a secured lender. As part of a foreclosure action against the assets, including the underlying real estate, Cordes & Company was appointed receiver. Cordes quickly gathered the information and documentation needed to analyze the entity’s financial and operational challenges. Based on this analysis, Cordes determined that the best way to maximize the asset values and minimize the holding costs was to cease operations. Cordes immediately shut down operations; dealt with employee, customer and vendor problems; resolved inventory issues; and secured the property. Following shutdown, Cordes worked with the parties to market and possibly sell the assets in a packaged deal to potential buyers. Ultimately, the owner transferred the assets to the secured lender as part of a settlement agreement. At this point, Cordes transitioned the property to the secured lender for liquidation.