Allegheny Child Care Academy, Inc.
Allegheny Child Care Academy, Inc., Debtor-In-Posession, (‘ACCA’ or the ‘Company’) is a provider of subsidized childcare services to the urban marketplace. The Company, established in 1992, is headquartered in Pittsburgh, PA and currently has 38 childcare center locations throughout Pittsburgh, Philadelphia and Cleveland.
In late 2000 Allegheny began to implement an aggressive growth strategy which included increasing the number and size of its facilities in its current geographic markets, as well as entering the Detroit marketplace. Due to unforeseen differences in Michigan’s subsidized childcare system, and the Company’s inability to fill its larger centers in Philadelphia and Pittsburg, the Company experienced a significant decrease in profitability. In April 2003, Allegheny filed for Chapter 11 Bankruptcy protection in the Eastern District of Pennsylvania.
The Company retained SSG Capital Advisors to explore strategic alternatives including the sale or restructuring of the Company. In conjunction with the Company’s counsel, SSG structured a Plan of Reorganization that restructured all classes of the Company’s creditors and equity.