FlexShopper Faces Critical Survival Deadlines

FlexShopper finds itself navigating the most severe crisis in its corporate history, confronting two simultaneous existential threats that could determine the company’s future. The specialty leasing firm is racing against time to address both a potential Nasdaq delisting and the imminent shutdown of one of its core business divisions.

The gravity of the situation became evident through recent executive changes. H. Russell Heiser Jr., who served as both Chief Executive Officer and Chief Financial Officer, was terminated from his positions. In response to the leadership vacuum, President John Davis has assumed control of the company on an emergency basis.

Further underscoring the severity of the predicament, FlexShopper has appointed Matthew A. Doheny as Chief Restructuring Officer. The... Read more...