How Blackstone Will Get Troubled Assets 'To the Other Side'Anchin in the NewsApril 29, 2020
At many portfolio companies, the task at hand is preventing failure, says Olamide “Lami” Ajibesin, managing director in the transaction advisory services group at Anchin, Block & Anchin.“A lot of the effort is focused on liquidity and staying alive,” she says.
Some portfolio companies are looking at “factoring” or asset-based lending strategies that use inventory or receivables as collateral, a strategy familiar to retail stores, Ajibesin says. “Other types of consumer businesses are evaluating it,” she says.
Some are bargaining with vendors and other partners, Ajibesin says. “Many companies are stretching their payments,” she says. Managers are designing plans to ensure proper social distance for employees and customers at hotels, restaurants, and stores they own, as well as provide protective gear and enhanced cleaning, Ajibesin says. “It’s a new operating playbook for cleanliness and safety,” she says.
Read the complete article on FundFire