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.

7979 E. Tufts Avenue
Suite 820
Denver, CO 80237
Telephone: 303.721.8755
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.0985
2030 Main Street
Suite 1300
Irvine, CA 92614
Telephone: 949.379.1202