J.E. Higgins Lumber Company is a large scale, regional lumber company and supplier of various construction-related hardwood, flooring, and window framing products. At its peak, the 125 year old company had revenues exceeding $300 million, with well over a dozen locations and over 600 employees.
Acting as agent for the Receiver, Douglas Wilson Companies (DWC) was charged with managing the interim operations and liquidation of the company and its diverse assets.
DWC provided an in-depth review of the company’s financial position, which had already begun an orderly consolidation and wind down. Following its initial review, DWC formulated a strategic liquidation plan, and obtained court approval to liquidate the company’s assets while overseeing its interim operations in order to maximize the recovery of proceeds. DWC’s responsibilities included overseeing the collection of accounts receivable, selling various real estate assets, directing the orderly liquidation of inventory, resolving numerous outstanding liens, and defending the company against any lawsuits that may arise.
The Receiver was discharged.
J.E. Higgins Lumber Company
Superior Court of the State of California, Alameda County
Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.
1620 Fifth Avenue
San Diego, California 92101