Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:08/19/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We contracted with second wind consultants to assist us with financial issues we are having with our franchise stores. Based on the commitment and promises from second wind and how they advertise, they are supposed subject matter experts in article 9 and *** negotiation. Which we required as part of our restructuring, our debt service In order to keep our businesses. Second wind committed to being able to provide us multiple options and would work on our behalf with our financial institutions. We have three coffee franchises from ********. One was a ***, two were traditional finance. We owned the land on one. We entered a contract with second wind at a charge of 160,000. That we were making payments on weekly in good faith that second wind was communicating with our banks, collaborating with our banks and or *** to help us restructure. Five months down the road of pain and having weekly calls with second wind, specifically Seth, and Laurel. We found out from our bankers, that nothing was being done. They were not having any discussions or dialogue with second wind concerning our debt service. Yet every week Secondwind was telling us that theyre an active discussions with our banks. They are fraudulent, they lied, they took advantage in my opinion of a situation that required help and they promised to help and did nothing. I Have documented proof from our banks of the zero collaboration, were engaging an attorney to determine what legal remedies there are, but I would highly advise anyone to look at other options outside of second wind. They are a fraud.. And just so you know, you'll speak with a sales guy, his name is Nathan. He is extremely articulate. He tells a great story and once you signed the contract, you hear nothing else from him. You handed off to Laurel and Seth or someone lower level it like a Ponzi scheme. They're so focus is getting the money from you and in our case, resulted in absolutely nothing.

  

  Business Response

  Date: 09/10/2024

  First, it must be stated that the complaining party - ***** -  is not and was never a client of Second Wind Consultants.  His wife, *****, was the client, and the main point of contact.  All weekly calls and communications went through her, and more often than not, ***** chose not to participate.  This seems to be a driving factor in his confusion regarding the engagement and this case.  There were instances were ***** called and apologized for ******* demeanor separately after weekly calls occurred. 

  Regarding bank communication, there are three banks involved in this case.  The SWC team communicated with all three via phone and email.  SWC provides balance sheet restructuring through Article 9 sales.  This means it conducts controlled private short sales of business assets to restructure unsupportable debt.  This is what's discussed in the initial consultations prior to signing on as a client.  That was exactly the plan in this case, however it did not come to fruition. 

  In every engagement, a buyer is needed.  Very simply, the clients were not able to secure a buyer in this engagement, which rendered the transactions impossible.  We do not have magic wands or debt erasers, so without a buyer, there was only so much that could be done to prepare a presentation and a transaction for the banks involved.  Daily, weekly, or even monthly calls are not necessary until you have something to offer.  In this case, contact was made, and we prepared them for our presentation, which ultimately never came. 

  The clients owned the land on one of their business locations, and were hopeful that this would provide enough value to sell the locations and leave a profit in their pockets.  But after securing an opinion of value, given the fact that two of the three locations were not viable, there was no scenario in SWC's opinion that would allow the clients to walk away with money.   

  We are sorry ***** was unhappy after ***** left our services.  Everything was articulately discussed in the consultation, as ***** mentioned in his complaint.  The engagement is not one sided, and requires the contributions from all parties involved, especially if the parties want to avoid a judicial procedure or bankruptcy. SWC upheld its end of the bargain, as it has been doing for over 15 years.