Hutch Interiors

ABOUT THE COMPANY:

Hutch developed an interior design app that takes a photo of your room and virtually redecorates it. Following an appearance on Shark Tank, the Company raised $18 million from prominent Silicon Valley venture capital firms and a strategic investor in the real estate industry.

SITUATION:

The business had ceased operations abruptly during the pandemic. Other than terminating employees, Hutch had not taken the steps required for an orderly wind down and dissolution. Without resolving these issues, and in the face of several corporate liabilities, directors and officers remained exposed to a variety of risks.

ENGAGEMENT:

Hutch engaged G2 to serve as its financial advisor to manage an orderly wind down. G2 developed a plan to uncover and pay all tax obligations, close out government and other accounts, obtain requisite corporate approvals for and effectuate the corporate dissolution, and distribute remaining funds to stockholders.

OUTCOME:

G2 executed on the wind down plan, resulting in the final settlement of all of the Company's affairs and the receipt of a certificate of dissolution from the state of Delaware.