Led the engagement team and worked closely with the Board as well as the CFO to develop KPI-driven liquidity and P&L forecasts for a distressed behavioral healthcare provider with a national footprint that was struggling from negative EBITDA, lower occupancy, and high turnover. Performed 4-wall analysis to assess facility-level profitability, reallocated 50% of corporate overhead burden to facility-level, developed a sale strategy for the performing facilities and a winddown strategy for the nonperforming facilities.

Led the engagement team in advising the term lenders of the largest franchisee of a major fast-food restaurant chain with southern and mid-western presence to develop a consensual restructuring plan that entailed optimizing store footprint, analyzing store-level EBITDA, assessing liquidity forecasts, performing liquidation analysis, determining a release price and negotiating a sale.

Advised the secured lenders of a luxury brick-and-mortar and online retailer at the onset of the Covid-19 pandemic to mitigate operational shutdown leading to a severe liquidity crisis. Analyzed management’s long-term business plan and feasibility, reviewed the DIP budget, monitored and analyzed store performance, GOB sales, asset monetization strategies, and advised on overall case administration and exit strategies that led to the lenders recovering 100% of debt plus interest, and the Company successfully emerging from bankruptcy with deleveraging $4B of debt.

Advised the secured lenders of a ~1000 store home goods retailer in assessing management’s business plan and marketing strategy, preparing store level analytics, and developing waterfall analysis that allowed the lenders to implement a “toggle” plan to pursue a sale, reorganization, or liquidation that resulted in a nearly par recovery amidst Covid-19.

Advised the lenders of a generic pharmaceutical company to assess the feasibility of management’s business plan, liquidity forecasts, contract pipeline, and debt capacity, determine covenant reset levels, and execute a debt amendment & extension.

Advised the unsecured creditors’ committee during a Chapter 11 process to identify asset sources and strategies to maximize recovery. Analyzed DIP Budget and helped company advisors identify/address key issues, estimated GUC claims, identified and analyzed sources of recovery including intercompany activities and asset sales, analyzed recovery waterfall under the plan term sheet, and negotiated recovery structure and funding mechanism with other stakeholders. The unsecured creditors maximized recovery from nearly zero to receiving a 50% interest in a litigation trust, which was funded by the secured lenders, and the company successfully emerged from a Chapter 11.