Hospitality Staffing Solutions, LLC (HSS), a leading provider of outsourced staffing solutions for the hospitality industry, today announced that it has received Court approval for the sale of its assets to HS Solutions Corporation, an entity formed by LJC Investments I, LLC and a group of investors including Littlejohn Opportunities Master Fund, L.P., Caymus Equity Partners and Management.
The approval of the transaction allows HSS to substantially reduce its outstanding indebtedness, shed certain legacy obligations and emerge with the strong financial backing of a new owner.
Rick Holliday, President and CEO, said, “We are pleased to have been able to get through the process with the continued support of our clients and team members. Personally, I am pleased to be back as CEO helping to lead the organization along with our new partners. As a result of this process, the organization is in a better position to continue to drive our business forward and deliver for our valued customers across the U.S.”
As previously announced, HSS filed a voluntary petition for relief with the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 of the U.S. Bankruptcy Code in order to facilitate the sale. The company expects to complete the sale and emerge from Chapter 11 in January. Throughout the sales process, HSS has supported its team members and continued uninterrupted service to its customers.
About Hospitality Staffing Solutions, LLC
Hospitality Staffing Solutions, LLC (HSS) is the nation’s leading hospitality staffing company. Established in 1990, our team of hotel industry experts works with 4 and 5 star properties in 32 states and 71 markets across the country. Our service model offers clients the continuity of full time employees with the scalability of flexible staffing. Visit us at www.hssstaffing.com.