A NJ based manufacturer engaged Remington to restructure its existing defaulted financing and refundingize the company’s operations. The 40 year old company, housed in its 90,000 square foot office/manufacturing facility, had a long track record of generating profits. Three years ago it lost several top customers to competitors and as a result began to lose money, which put its bank financing in default.

Remington provided the company with a full range of financing options to correct its problems. The sale leaseback option was chosen as it solved several problems at once. By selling its real estate to one of Remington’s investors, the company received 100 percent of the building’s market value, engineered a favorable long term lease that was less costly than its original debt service and provided funding to fund company initiatives to rebuild its business while simultaneously reducing its taxable exposure. The company has retained Remington as its outsourced finance department to arrange additional asset based financing as it re-establishes profitability.