Manufacturer of iron castings, forged and machined components composed of six, distinct operating companies.
Challenges Faced:
Company over-leveraged after a series of acquisitions and a downturn in the economy.
Company needed assistance in recapitalization.
Solutions Delivered:
As debtor’s senior advisor, advised in the development of a “prepackaged” Chapter 11 Plan, built around bondholders’ agreement to exchange $285 million in senior subordinated notes for $100 million in new notes, 50 percent of newly issued common stock, and $30 million in cash.
Led senior management and financial advisors in preparation of a “rationalized” operating business plan for presentation to lenders.
Jewelry Retail ChainIdentified areas of concern, including material misrepresentations of financial position and borrowing availability, while performing operational and financial due diligence for potential investor.
Solar Energy IndustryAssisted publicly held developer and manufacturer of solar cell materials create viable business plan, restructure existing debt and raise new equity outside of standard public entity approval channels.
Supermarket ChainSuccessful realignment of corporate infrastructure and liquidation of non-key assets and inventory for multi-billion dollar supermarket chain.
Fuel DistributorCoordinated all aspects of Chapter 11 filing and emergence for public partnership retail fuel distributor.
Metal GoodsCreation of a ‘prepackaged’ Chapter 11 Plan and development of a ‘rationalized’ operating business plan for presentation to lenders.
Furniture RetailerLed Chapter 11 filing and oversight of financial and operational activities for then eighth largest national furniture retailer.
Entertainment FacilitiesManagement of orderly Chapter 11 wind down, including liquidation of assets and oversight of daily operations for public chain of recreation centers.