Colleague Spotlight: Michael Miller, SVP Capital Planning and Strategy

Michael's work is critical to determining the value and approach for potential liquidation transactions. He describes his area of expertise simply: "I review, research, analyze and model data and information related to retail, industrial and wholesale liquidation opportunities. This will ultimately lead to the price we are willing to pay, or the estimated proceeds a client will receive, on a potential liquidation transaction."

His path into this specialized field was organic. While working for a retailer undergoing a liquidation, Michael was recruited to join a liquidation firm, setting him on his current trajectory. This background, having spent five years working in the field on projects before joining the executive team, provides him with an operational focus on modeling and due diligence—a mindset his colleagues find incredibly valuable.

One common misunderstanding Michael addresses is the nature of their engagements. He emphasizes: "We are always invited into our opportunities. We are not in situations where we force our way into a company to liquidate them. We are asked to help companies be able to monetize their assets so they have time and opportunity to turn the company around, or so they are able to pay the costs to wind down the business."

For Michael, the Chapter 11 bankruptcy process provides the optimal framework, offering the most effective way to advertise and execute a liquidation without the logistical and legal constraints encountered in other scenarios.

Michael is energized by a recent shift in the marketplace: the prioritization of equity transactions in the liquidation space. He notes: "Equity transactions tend to have more unique and interesting structures than a typical fee-for-service transaction."

A complex challenge that currently holds his attention is the opportunity to duplicate a unique deal structure currently utilized in the European market in Australia. Successfully implementing this could unlock significant potential in the Australian market.

When asked about a project that showcases his expertise, Michael points to the firm's involvement in the Joann liquidation. "Understanding our competitors' positions and bids, working with the entire GA team to respond to various moving parts of the bidding process, and compiling our responses... was a very time-consuming and exciting process."

He highlights how the team's historical experience with this deal structure, combined with a determined and focused diligence process, enabled them to create a unique alternative structure that ultimately became the winning bid over the "stalking horse bidder."

Michael keeps at the forefront of the industry by staying in touch with key personnel—turnaround management experts, lenders, and others—to gauge competitor activity and track customer sentiment trends. While he recognizes that the current global environment with tariffs, tax cuts, and conflicts is chaotic, he notes, "we typically thrive in a chaotic environment. We move quickly, adapt quickly and are more able to be flexible."

Looking ahead, Michael's professional aspirations are tied to the company's culture. He hopes that the organization continues to perform with the high standard of empathy, integrity, and skill that was appreciated by stakeholders during the Joann project.

On a personal note, Michael has accepted a challenge from his daughter to finally commit to learning to speak German using Duolingo—a goal he is excited to pursue with newfound dedication. Outside of work and family, he keeps his competitive nature "finely tuned" by following Fantasy Football and the NFL.