Force 10 served as financial advisor to the Debtors.
Golden Hotel owned a 200-room hotel in Buena Park, CA next to Knott’s Berry Farm and Disneyland. The hotel filed Chapter 11 bankruptcy in 2020. Force 10 was hired to help with the restructuring process as well as to conduct a liquidation analysis of the company’s assets. Case was completed as a structured dismissal which provided a full recovery to the secured creditor and a distribution to the unsecured creditors. Force 10 evaluated the available alternatives in light of the negative impact of COVID on the business, significant deferred maintenance, and debt load. These factors ultimately led to the sale of the hotel, the repayment of the secured lender, priority claims, and a distribution to the unsecured creditors.