Our firm was hired by defense counsel to assist with a case involving a restaurant that was destroyed in a fire. The landlord chose not to rebuild the building and the restaurant owner decided not to relocate. The restaurant owner claimed loss of business value.
We were required to prepare an expert report to critique the plaintiff’s valuation of the business’ goodwill, and to provide our own opinion on the value of the business that was destroyed. We reviewed financial information for the plaintiff’s business, utilized industry statistics and liaised with a local industry expert. We also analyzed comparable market transactions and conducted interviews relating to the restaurant industry in the area. We also provided counsel with a letter identifying key issues and the competing arguments, which was used during settlement discussions.