News
Qorval Restructures Franchise Network
April 20, 2010
A franchise operation with ambitious ideas for growth and a track record to match would appear to be an unlikely candidate for Qorval's services. But despite favorable publicity in magazines such as Fortune and Entrepreneur, this particular Company was spending money at a rate that concerned its major investors due to slower revenue growth in this economic environment as well as significant monthly cash burn.
Qorval's Director John Pryor, whose extensive background includes CEO management experience combined with franchise management operations experience, identified over $6 million in cost savings during a five-month engagement. As a result of Qorval's leadership, findings and recommendations, the Company's founder will return as CEO to implement Qorval's revitalization plan.
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James R. Malone Announces Successful Closing of $2.4B Bond Sale
April 8, 2010
Citizens Property Insurance Corporation - the largest writer of property insurance in Florida with just over one million policies and the third largest underwriter of property insurance in the nation - has closed on a $2.4B bond sale, enabling the State of Florida to enter the 2010 hurricane season in the strongest shape and firmest financial footing in its history. Qorval's James R. Malone, Chairman of the Board of Citizens said, "This is truly a great day for all Floridians. The success of Citizens Property Insurance Corporation in closing this bond sale is indicative that capital markets are coming back, and of Citizens' ability to access capital at extremely favorable rates. Particularly for the average Floridian, this is a tremendous achievement."
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Qorval Restructures ADS Logistics
February 1, 2010
ADS Logistics, a leading service provider of logistics solutions to the metals industry, has successfully emerged from bankruptcy through a pre-packaged sale transaction to its lenders. Qorval Managing Partner Tim May led efforts to close the transaction in less than 60 days after ADS filed for bankruptcy protection. The restructuring process has allowed ADS to shed unprofitable locations and right-size the business for future growth. May, who served as the Chief Restructuring Officer, interim Chief Executive Officer and Chief Operating Officer for ADS throughout the restructuring process said, "The historic downturn in the automotive industry presented a broad set of challenges for the ADS business model. We were excited to provide the support that allowed ADS to restructure its business and create a foundation for future growth and prosperity. The speed and efficiency of the turnaround is a true testament to the ADS employees and its advisors."