An Asian food importer and distributor located in Los Angeles, California.
Project Description
Douglas Wilson Companies (DWC), agent for Receiver, liquidated assets and collected receivables for UFC Seafood.
Scope of Work
DWC took possession of three distribution warehouses and prepared an inventory of all assets. During the following eleven-month period, DWC negotiated more than 100 separate sales of more than $25 million in perishable and non-perishable foodstuffs, dry goods and personal property. After reviewing and correcting the company’s accounting systems to reflect an accurate value and instituting a comprehensive collection plan, DWC returned the leased warehouse and storage facilities to their respective landlords.
Project Resolution
Ultimately, DWC liquidated the assets of UFC and collected all due receivables.
Project Name
UFC Seafood
Client
Superior Court of the State of California, Los Angeles County
Location
Los Angeles, CA
