California's Leading ABC & Restructuring Firm
Turn Around Your Company with Expert Consultancy
CMBG Advisors provides court-appointed and out-of-court fiduciary services to companies in transition—delivering legal precision, operational insight, and value preservation.
30+
Years Experience
150+
Cases Managed
$2B+
Assets Administered
CMBG Advisors is a trusted fiduciary and strategic advisory firm guiding companies, lenders, and legal stakeholders through financial distress, transition, and restructuring. We bring clarity and control to high-stakes situations, combining legal precision with business judgment to preserve value and protect reputations. Founded by veteran strategist Jim Baer, CMBG helps clients manage complexity with maturity and resolve.
Services
The best path forward isn’t always clear. CMBG delivers expert consulting and restructuring services to identify challenges and craft a strategic plan for your next steps.
Media
CMBG Advisors is a trusted expert for founders, investors, and executives. Featured in podcasts, national news, and more, our team provides insights to help you explore your options and strategies.
Leadership
Our business-savvy team helps you navigate the process while minimizing losses. With deep experience across industries and complex situations, we're ready to support you.
20k+
businesses file for bankruptcy annually in the US
50%
of small businesses fail within 5 years
70%
higher survival rate for companies that restructure early
40-60%
reduction in creditor losses through proactive restructuring
80%
of businesses working with consultants achieve better outcomes
Practice Areas
What We Do
Assignments for Benefit of Creditors
Our flagship practice. CMBG is the most experienced ABC firm in California — serving as assignee to wind down insolvent companies faster, at lower cost, and with higher creditor recoveries than traditional bankruptcy.
Learn MoreReceiverships & Fiduciary Services
Fiduciary management that brings order, transparency, and accountability to distressed entities — working alongside courts and stakeholders to protect and maximize value.
Learn MoreStrategic Advisory & Restructuring
Comprehensive restructuring, workout, and strategic planning support for companies and stakeholders trying to preserve optionality before the facts force a harder outcome.
Learn MoreBankruptcy
Chapter 7 and Chapter 11 support for debtors, trustees, lenders, committees, and counsel managing cash pressure, sale execution, claims, and court-supervised process design.
Learn MoreLiquidation
Corporate liquidation services across Chapter 7, ABC, out-of-court, and secured-creditor processes, with disciplined monetization and stakeholder transparency.
Learn MoreTurnaround Advisory
Hands-on turnaround and performance improvement for middle-market companies, lenders, and stakeholders navigating underperformance, distress, and operational complexity.
Learn MoreLeadership
Veteran Strategy, Decisive Execution
Our team combines legal precision with operational insight — a trusted partner for founders, investors, and executives navigating financial distress and corporate transition.
Meet the Full Team
In The News
Recent Coverage
Selected reporting on CMBG matters, distressed-company processes, and the market stories behind restructuring decisions.
GeekWire
May 22, 2026
Robot pizza startup runs out of dough: Picnic shuts down, sells assets to mystery buyer
GeekWire covered Picnic's ABC wind-down, asset sale, and CMBG Advisors' role handling the process.
By Kurt Schlosser
Read ArticleThe Spoon
May 27, 2026
As Picnic Shuts Down and Sells Assets, Others Look to Fill Their Shoes
The Spoon followed the Picnic wind-down and the broader food-robotics market response after the asset sale.
By Michael Wolf
Read ArticleApple News
May 2026
Picnic coverage on Apple News
Apple News coverage of the Picnic matter and the distressed-company process.
Read ArticlePodcast
Stay Tuned with The Puck
Latest Episode
July 9, 2026
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Katherine Baicker
In Episode 122 of The Puck: Venture Capital & Beyond, Jim Baer sits down with Katherine Baicker, one of America’s le...
Dr. Ashish Jha
In this week's episode, Jim sits down with Dr. Ashish Jha — physician, health policy expert, and former White House...
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Monthly notes from Jim Baer on venture capital, restructuring, and the operating realities behind fast-changing markets.
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Latest Issue · July 2026
The Puck Newsletter: July 2026
The July 2026 Puck newsletter connects debt discipline, industrial capacity, critical minerals, and space strategy, arguing that America's next frontier depends on whether it can still organize, finance, and protect long-term national advantage.
Ready to Work Together?
Every situation is unique. Reach out for a confidential conversation about your company's challenges and how CMBG can help navigate the path forward.
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