Restructuring
Restructuring
Our work with companies in the process of restructuring to improve profitability and competitive position includes the following tactical support:
- Partnered with store operations and merchandise departments of major retailers, providing counsel and support in re-engineering processes, changing department structure and functions.
- Interacted with store level personnel in implementing changes leading to improved productivity and operating efficiency.
- Reorganized and re-engineered departments and processes to reduce costs and improve efficiency.
- Renegotiated existing credit agreement leading to a new $120 million agreement secured with inventory replacing a $40 million facility. In another instance, replaced existing $40 million facility with new credit agreement, first step that ultimately led to sale of the company.
- Restructured debt structure providing more flexibility and greater borrowing capacity.
- Initiated the liquidation of inventory through the use of third party firm and negotiated the agency agreement.
- Developed 200 store closing plan and other cost reduction programs at store level. Oversaw the store closing program.
- Maintained relationship with investors, lenders, landlords and vendors.
- Established credit terms with major vendors for a start-up company.
- Put into place all administrative functions and company infrastructure for a start-up.
- Refinanced high-interest bearing notes with Preferred Stock providing significantly higher liquidity.