For the purposes of this assignment, one is to assume that you are a Junior Consultant with an international company that provides SCM advisory services. Also, this company has a policy on written correspondence that requires one to use the MLA format for internal communications. Your Managing Consultant is J. Bottomley.
For this assignment, one is to write a 1,500 (maximum) word memo in MLA format (both paper layout and referencing) to determine both the costs to society and the business opportunity generated by All Service Corp (not a real company) registering a NOI and they are going to liquidate in 30 days after that date. The NOI is expected to be registered within the next two weeks.
All Service Corp is a Canadian owned corporation in the restaurant business. They own 5 major restaurant chains and these brands operate mostly through franchised operations and the franchisees lease their own locations. Approximately 10% of the restaurants are leased by the Corporation. All of the restaurants are purpose built, meaning it would cost a new occupant a substantial amount of money to change that local from a restaurant to any other type of retail establishment. The scope of their operation is large as every urban area with more than 50,000 people would have at least 2 of these brands present. With the Covid-19 mandated closures and restrictions on operations, All Service Corporation has seen their profits replaced by losses. These losses are on-going and are getting to a state where liquidation through bankruptcy is the best option.
It should be noted that the company has the following benefits (still in existence) for their employees and retirees:
– a defined contribution pension plan,
– excellent medical, and dental insurance coverage,
– a retiree’s card entitling the retiree and 1 guest to 25% of the cost of the their food,
– a tuition assistance plan, and
– an option for employees to invest in the company’s common stock at a discount to the market value.
The basics of the corporation’s financial position are identified below:
– bond issuance $890,000,000
– unsecured bond issuance $645,450,000
– equity shares issued that pay a 1% dividend (decreasing share value every day)
– the corporation has current debt and on-going payments that is larger than their cash holdings and their ability to raise new capital, and
– Current assets (illiquid) total approximately $120,000,000.
(Note: This Decision Maker Assignment – 3 assignment is not an accounting exercise, do not use any ratios- the Corporation is going to liquidate.)
From the information provided (logically supported assumptions are permitted), you should use your knowledge and business logic, in general to determine and support the following:
1. Any two costs to governments (local, provincial or federal) of the liquidation,
2. Any two losses to the employees (losing their employment does not count), and
3. The opportunity that may arise from this liquidation for a competitor.
Base the answer taking Canadian scenario.Memo should have 3 major parts Introduction,Discussion,conclusion.
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