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
Podcast
Stay Tuned with The Puck
The Puck: Venture Capital & Beyond showcases the innovative thinking that defines the venture capital industry, and the cutting edge technologies that shape our world. Join Jim Baer, CMBG's President, for in-depth conversations with leading VCs, entrepreneurs, and technology experts. Learn about their successes, challenges, and how they got to where they are today. Along the way, discover what investors look for, and what to avoid when making your pitch.
Latest Episode: Dr. Ashish Jha
Dinny McMahon
China looks unstoppable from the outside — record exports, dominant EVs, and a relentless push into AI, robotics, and ad...
Mark Dubowitz
What happens when Iran gets the bomb—and the missiles to deliver it?
Rabbi David Wolpe
Jim sits down with Rabbi David Wolpe in a wide-ranging conversation on wisdom, religion, and the moral challenges of mod...
Jessica Riedl
America’s fiscal problem isn’t political—it’s mathematical.
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Newsletter
The Puck, in your inbox
Monthly notes from Jim Baer on venture capital, restructuring, and the operating realities behind fast-changing markets.
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Latest Issue · April 10, 2026
The Puck April Newsletter
Default rates are climbing to levels the modern private-credit era has never seen. Payment-in-kind structures are papering over deteriorating borrowers. Tariffs, slowing growth, and 45% recession odds have arrived at exactly the wrong moment for a market built on enterprise-value collateral, covenant-lite terms, and a decade of cheap money.
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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