Tortola into its first turnaround

By Geert De Lombaerde Posted on August 12, 2009 at 7:27 am

Tortola Partners, the turnaround firm formed this spring by Steve Curnutte and Robert Gonzales, is getting to grips with its first portfolio company, an aluminum producer in Alexandria, Tenn. Gonzales, pictured here, is the company’s chief restructuring officer.

“As more and more aluminum processors have filed Chapter 11, or simply gone out of business, scrap dealers have become reluctant to extend trade credit, making it tough for otherwise healthy companies like TriStar,” said Mr. Gonzales. “Now that we’ve filed to reorganize, our trading partners can be confident that obligations going forward won’t get stuck as pre-petition debts.”

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Tags: bankruptcy, commodities, management consulting, manufacturing, private equity, Robert J. Gonzales, Steven D. Curnutte, Tortola Partners LLC, Tri Star Aluminum Co. LP, turnaround specialists