"Both of our businesses will operate independently, so we'll continue all of our practice areas, but also we will serve as a one-stop shop for people doing restructuring and work that way," Michael Sitrick, chairman and CEO of Sitrick & Co. told PRWeek. Sitrick will also serve as chairman and CEO of the new subsidiary, with John Brincko as president and COO.
Between January 2008 and June 2009, Sitrick & Co. had revenue of $24.4 million, and Brincko Associates took in $14.4 million, Resources released in a statement.
Sitrick said he had been in talks with Resources for several years and decided the timing was right because "there are a lot of companies that, quite frankly, need to reorganize and should be using Chapter 11 to reorganize… so we expect, we're anticipating a wave of Chapter 11 reorganizations over the next several years."
None of the agency's clients or employees will see any differences or change, Sitrick said.
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