Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreRetail and wholesale supplier of educational and school supplies. $19 million in sales. $3 million debt. 33 locations in five states. Approximately 300 employees. 28k SKUs. ESOP Ownership Structure.
Our experts served as interim management and led a detailed set of restructuring initiatives, which included:
The plan called for improvements to cash management, the full payment of the term loan with the Bank, and for the Company to operate using only cash flow from operations, without a senior lender. Additionally, we closed 11 of 33 negative cash flow retail stores, negotiated payment plans with approximately 287 vendors, and negotiated rent concessions from all retail store landlords.
As a result of our experts’ efforts, the Company was able to address the root causes of its key issues, achieve positive cash flow during its slow season on a self-funded basis without a senior lender, pay off 100% of its term loan, and avoid forced liquidation/bankruptcy by its lender.
Despite the highly distressed condition of the business and a tumultuous economy, we successfully managed cash for six months, engineered an option to prepare for another back-to-school season, and kept the company alive for an additional year in one of the top economically declining metropolitan regions in the U.S.
Dan F. Dooley, CTP
Senior Managing Director
Strategic Advisory Practice
+1 603 660 8952
[email protected]
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