Project Studio provides audio-visual media services to the entertainment and advertising industries. The Company collaborates with clients to design customized solutions that fit seamlessly within existing business operations. Services include HDTV services, encoding, duplication, asset tracking for long-form programming, and Telecine.
Project Studio began to experience falling revenue and profitability quarter over quarter and needed additional working capital. Ownership engaged G2 in discussions on strategic alternatives including full sale, divestiture, or recapitalization following stabilization of the Company.
G2 led the restructuring and Ch. 7 liquidation process for this distressed portfolio company of a credit fund. G2 put a CRO in place to manage the wind down of operations and augmented the Company’s financial resources to assess and manage the cash needs of the business.
Project Studio chose to hold off on engaging on any formal restructuring plans as an effort to preserve liquidity. G2 is now in process to reengaged as a potential CRO for the Company while it files for bankruptcy.