Project Description

Problem Statement:

A regional grocery store chain filed for bankruptcy. With over 1,200 stores, the plan was to close selected retail locations and adjust lease terms on a large number of remaining locations. Availability to centralized records, records retention, store lease information and account information was limited and needed to be reconciled in a single location.

AT Tax was Engaged to:

Utilize all local, state and federal remedies to help the company achieve a fair basis of taxation.

AT Tax Advisory’s Results:

AT Tax Advisory established an efficient and transparent system to monitor tax and tax values, reviewed all real and personal property tax values and initiated an appeals program under local statutes as well as the bankruptcy court. AT Tax Advisory saved the company approximately $50 million in taxes. In addition, AT Tax Advisory performed services as an outsourced property tax department including assumption of responsibility for tax bill payment, property tax return filing requirements, and internal reporting for accounting purposes.