Case Studies

CRO & Financial Advisor of Bankrupt Retailer

J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida

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Home·CRO & Financial Advisor of Bankrupt Retailer

The Situation

An upscale menswear retailer with 11 stores in California, Nevada, and Arizona, filed for relief under the new Subchapter V Chapter 11 at the height of the Pandemic.

As Financial Advisor/CRO of a menswear retailer, we worked with management, the secured lender, the bankruptcy trustee, and bankruptcy counsel to achieve a confirmed Plan of Reorganization under Subchapter V Chapter 11 in less than 7 months.

  • Secured Creditors were paid back in full.
  • Renegotiated most of the company’s leases and critical business contracts.
  • Secured Lender provided DIP and exit financing.
  • The Bankruptcy Trustee wholeheartedly endorsed the confirmation.

How We Advised

  • Developed defensible, conservative cash flow projections.
  • Negotiated DIP and exit financing.
  • Quantified and recommended operational changes.
  • Introduced a new bank for merchant services midstream during the process after the company’s provider declined to continue.

Related Practice Areas

> Chief Restructuring Officer (CRO) and Interim Management Services 
Our experienced C-suite interim executives advise and support companies in financial distress, experiencing hypergrowth, or that are challenged by critical vacancies among senior leadership. Whether the leadership void results from operating challenges, a recent officer resignation, the need for added support during busy periods, or during an extended job search for the right permanent hire, our experienced executives provide immediate relief and value. 

 

> Bankruptcy Advisory 
Navigating bankruptcy is inherently complex, often involving struggling businesses, litigation, incomplete or inaccurate financial records, potential fraud, and other challenges, in addition to strict court-mandated processes. Our experienced team of turnaround and restructuring experts seamlessly guides clients throughout the process to optimize outcomes for lenders, creditors, shareholders, and employees. 

Key Contact

For additional information about the engagement or to learn more about our services, contact:

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