Metro Care, Inc.
Metro Care, Inc. a subsidiary of Aleph Management Systems, provides specialty transportation services, primarily in the para-transit industry.
Metro Care filed for protection under Chapter 11 of the U.S. Bankruptcy Code as a result of cash flow constraints stemming from a breach of contract with its largest customer. SSG assisted in confirming Metro Care’s Chapter 11 Plan of Reorganization and negotiated a substantial prompt payment discount with the unsecured creditors
SSG also completed a $30 million financing to replace a total of $17 million of financing which reduced yearly debt service by over $2.5 million and provided significant liquidity to fund expansion both internally and through acquisition