Case Summaries
FAMILY OWNED MANUFACTURER
After inheriting a business with the passing of their parents, the new second generation owners, who were not involved with the business, discovered the business had been losing money for many years. Unfortunately, the business was not a turnaround candidate, nor could it be sold as a going concern. We took control of the situation in order to alleviate the owners from the burden of the business wind up process. Facilities were kept operating for a short time to convert raw materials and WIP into finished goods. Assets were monetized and the facilities were cleaned and turned over. We handled all administrative aspects of the wind up, including final accounting, tax returns, and document storage.
FAMILY OWNED PROTEIN PRODUCER
The matriarch of a protein provider was facing bankruptcy for the second time. We assisted the CFO updating and reviewing the 13 week cash forecast, developing a multi-year financial forecast and preparing an EBITDA bridge. We provided transaction support to the CEO and CFO which led to a successful replacement of the existing secured debt facility which also provided additional capital to increase liquidity.
ASSISTED LIVING FACILITY
As the financial advisor to the operator of assisted living and memory care facilities we re-established credibility with the lender, reviewed the 13 week cash forecast, prior month budget-to-actual reconciliation, capex budgets, provided monthly updates and other requirements under the forbearance agreement. The repaired relationship proved crucial when a sales transaction which would have paid the lender in full fell through. Despite the broken deal, the lender supported an extension of the forbearance agreement and continued operation of the facilities until market conditions improved.
SPORTING GOODS RETAILER
We assisted a family-founded sporting goods retailer with evaluating their 4-wall store analysis, store closing program, 13-week cash forecast, and bringing their e-commerce channel in-house. Strategic planning and decision-making were complicated as a result of certain stores being anchor tenants on properties owned by family members.
PRIVATE EQUITY BEAUTY SALONS
For a private equity fund provided strategic options for a failing mall-based chain of beauty salons. Working with the CEO and the CFO provided situational advice, reviewed the 13-week cash forecasts, identified key gating items affecting the go/no go pathways, and interfaced with the third-party liquidation firm ultimately coordinating the section 363 sale.
FAMILY OWNED PROTEIN COMPANY
The siblings of a company started by their father had been involved in years of litigation. In order to resolve the litigation, the company filed for chapter 11 bankruptcy to effect an orderly liquidation of the business. We provided bankruptcy case management, provided information in support of the first day motions and subsequent pleadings and reports to the court and the Office of the United States Trustee, oversaw the preparation of statements and schedules, supported the section 363 sale and served as the trustee for the liquidating estate.
INDEPENDENT TRUSTEE AUTO MANUFACTURER
Serve as an independent trustee of American Suzuki Motor Corporation, evaluated strategic options presented by insolvency counsel, and approved the winding up of the company's automotive sales through a chapter 11 liquidation which included paying all unsecured creditors in full.
SHOE AND APPAREL COMPANY
For the founder of an action sports footware and apparel company, led the efforts to alleviate its liquidity constraint which culminating in the replacement of its loan facility, negotiations with key suppliers, strategic advisory of its operational restructuring, 13-week cash forecast, and consolidation of separate brand operations into a more efficient operating structure.