Public partnership with $350 million in sales and $460 million in debt formed as a roll-up of three regional firms.
Challenges Faced:
Lack of liquidity.
Loan default, heavy debt burden and various litigation matters.
Solutions Delivered:
Delayed Chapter 11 filing by identifying accessible cash balances, strategic vendor negotiations and non-core asset divestitures.
As debtor’s senior advisor, coordinated all aspects of preparing for the Chapter 11 filing including first day motions, statements and schedules, and coordination with debtor’s counsel.
Directed operations and accounting departments in bankruptcy planning and working within Chapter 11 guidelines.
Provided many of the functions of a senior management role including business plan development, oversight on records audit, analysis of operating results with development of measures and implementation of improvements to performance.
Coordinated efforts in the development of Freshstart accounting for post Chapter 11 emergence.
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.