JBL Companies was appointed by the court as a Receiver of a major national branded convenience store in the western suburbs of the Twin Cities. The convenience store had been closed for 11 days because the previous operators were unable to pay creditors and the mortgage holder. The value of the facility was declining every day it remained closed.
The JBL Special Assets Department engaged on a Monday and secured and insured the facility. Over the next 4 days, 12 employees were hired, neglected equipment including the carwash was repaired. The team met with vendors working on agreements to obtain new inventory so the store could be stocked. The facility was re-opened to the public on Friday. The convenience store has been operating profitably from the onset of the JBL Special Assets takeover and the value of the facility has increased significantly.