Onyx Asset Advisors, LLC has announced a deadline to submit qualified overbids of 5:00 pm PT on July 22nd. The name of the company will be provided upon execution of an NDA. This shoe retailer previously had $100 million in revenue and operated 70 retail store locations, supported by a 50,000 sq. ft. distribution center and corporate offices in Southern California. As a result of the pandemic, it has repositioned itself primarily as an online-focused footwear retailer. More information at DailyDAC.

B. Riley Financial Advisory Services has announced a deadline to qualify to bid of 5:00 pm PT on July 29th. The name of the company will be provided upon execution of an NDA. The company is a professional services company which has been engaged in the business of facilitating mobile installations of accessory parts for jeeps and other 4×4 types of vehicles as well as facilitated in-home installations of bathtub cutouts (approx. 50 orders per week). More information at DailyDAC.

Claims trading is a financial transaction whereby the owner (or “holder”) of a claim sells that claim to a third party, thus making that third party the new owner/holder of the claim. Claims trading happens in chapter 11 bankruptcy with frequency, but it happens outside of chapter 11 even more frequently. With the coming explosion of chapter 11 cases, this may be a good time to consider the strategy. Read about it in An Introduction to Bankruptcy Claims Trading by Timothy C. Bennett.

Do you buy or invest in distressed companies or their assets? Do you buy overstock, excess, or obsolete inventory? Are you an M&E dealer, industrial auctioneer, or broker looking for your next deal? Are you an attorney or other professional advisor who represents or works for distressed companies or their creditors? Are you an investor who looks to buy companies that may be poised for a turnaround? If the answer to any of these questions is yes, then you need to know about DailyDAC’s Distressed Deal Data™. Try it out for two weeks and see what sort of deals you can find.