$150 million historical sales
Turnaround & Business Restructuring, Distressed M&A Suppor
Founders had overextended themselves with debt in effort to rebuild brand and nationwide presence and had filed for Chapter 11. Brand had been used by major bottling company for use on an energy drink but subsequently switched to its own new brand curtailing key funding source for retail operations. Creditors had lost confidence in the remaining founder management team and were seeking a controlled exit.
Served as Chief Restructuring Officer to stabilize core store operations and interim funding needs, along with cash management and preparation of business for sale.
Through turnaround efforts, created additional options for viability of the business that helped to increase the prospective sale value in 363 auction process. Scaled down the number of stores, restocked the stores with more staple and cost-effective product that improved gross margins, and ran promotions that reinvigorated store sales.
Identified alternative bidders that helped drive up the auction value. Managed bidder diligence process and assisted management with presentations and prospective business opportunities for the retail operations and separately the brand.