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

Read More close Created with Sketch.
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.

Key Contact

David Stapleton, CPA, CLPF 
Senior Managing Director 
Strategic Advisory Practice 
+1 213 235 0601 
[email protected] 

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. 

Our Experts