For Immediate Release
April 5, 2019

The HJH Companies Announce Q1 Results and Anticipated Bankruptcy Exit

The HJH Companies Announce Q1 Results and Anticipated Bankruptcy Exit

The HJH Companies Announce Q1 Results and Anticipated Bankruptcy Exit

The HJH Consulting Group, Inc. dba The Salt Group (“HJH”), U.S. Tax Recovery Partners, LLC and B2B Prospecting, LLC (jointly, the “Company”) announced the United States Bankruptcy Court for the Western District of Texas issued the order (“Order”) to confirm the Debtors Amended Joint Chapter 11 Plan of Reorganization dated January 15, 2019, as subsequently modified, amended or supplemented from time to time, the “Plan”, on March 22, 2019. Pursuant to the Bankruptcy Court Rules, the Order become final on April 5, 2019.

As the Company pushes towards its exit from bankruptcy, it is also pleased to announce first quarter results: The company closed 297 deals for total revenue of $2.3 million and EBITDA of 20% for the quarter ending March 31, 2019. While these results cannot be compared to Q1 of 2018, they continue to exceed budget.

The Company has also added to its executive team: Carrie Griffin was officially announced as VP for Business Development, Tracy Rons as President and John Griffin as CFO. Harlan J. Hall continues as the CEO of HJH.

Said Hall: “We continue to move forward with strong performance and should be officially exiting bankruptcy in the next couple of months”

About the Company:
The HJH Consulting Group, Inc. (dba The SALT Group) was founded in 1988 and quickly became the leading provider of performance-based Sales & Use Tax Refund Reviews for manufacturing companies in the United States. In 2013, U.S. Tax Recovery Partners, LLC started providing Operating Cost & Expense Reduction services, which will continue under The HJH Consulting Group, Inc. name. U.S. Tax Recovery Partners, LLC, and B2B Prospecting, LLC are affiliated companies which will be discontinuing operations.

The Company was provided legal representation by Rosenblatt Law Firm and Willis & Wilkins, L.L.P., and financial services by Aventine Hill Partners Inc.

 

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