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Retail & Consumer

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MERU CASE STUDY

Restructured a national clothing and equipment retailer

COMPANY OVERVIEW

  • Outdoor clothing and equipment retailer in the U.S. Northeast headquartered in Meriden, Connecticut
  • Following a Chapter 11 bankruptcy just six months earlier, vendors imposed very restrictive credit terms and never fully resumed shipments, resulting in limited inventories and consequent continued liquidity problems
  • As a result, Eastern Outfitters filed for bankruptcy protection again in February 2017

OUR APPROACH

  • Replaced tier 1 restructuring firm as Chief Restructuring Officer after they were forced to resign by the board due to an unworkable relationship with the prospective buyer.
  • Gained control of cash forecast
  • Assessed operations for cost reduction opportunities
  • Managed the Chapter 11 bankruptcy process for the estate
Retail & Con - Case Study #4

OUR IMPACT

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Successfully led the company through a Chapter 11 process  and private sale to a U.K. based specialty retailer.

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Reduced corporate headcount by 27% prior to closing.

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Repaired damaged relationship with the eventual buyer.