Ex-CEO fired as staffing firm merger turns ugly
Just one week after the Feb. 9 closing of the Select-EmployBridge merger, Sorensen was ousted amid allegations that he improperly transferred $2.7 million to an entity he controlled.
Board says it ousted Sorensen from Select Staffing
D. Stephen Sorensen, who steered the fortunes of Santa Barbara-based Select Staffing through explosive growth, bankruptcy and a merger that closed on Feb. 9, has been terminated for cause.
Select merger will shift HQ to Atlanta
One of the 10 largest staffing firms in the nation, the Santa Barbara-based Select Family of Staffing Cos., announced Jan. 5 it plans to merge with EmployBridge, a staffing company based in Atlanta.
Select Staffing HQ moves to Atlanta amid ownership shuffle
The merger comes less than a year after Select restructured itself after declaring Chapter 11 bankruptcy and will permanently relocate the national company’s headquarters from Santa Barbara to Atlanta.
Select Staffing to shed debt, relinquish family control in Ch. 11
The reorganization will reduce the ownership stake held by the Sorensen family and ends a years-long search for a solution to the heavy debt load Select Staffing took on at the height of the credit bubble.
Business lessons learned from region’s largest corporate bankruptcy
At least in terms of revenue, Select is the largest company in the history of the Tri-Counties to seek Chapter 11 protection from creditors.
Updated: Select Staffing files pre-packaged Ch. 11 bankruptcy
The Select Staffing Family of Companies, the Santa Barbara-based staffing services giant, filed a pre-packaged Chapter 11 bankruptcy on April 1 listing between $50 million and $100 million in debts and $100 million to $500 million in assets.