ABOUT THE COMPANY:
Founded in 1982 and headquartered in Chicago the Company is an event service company providing a full selection of tables, chairs, linens, tenting solutions, lighting, lounge furniture, catering equipment, and floral design / products. The Company serves weddings, social parties, and corporate events in the Chicago metropolitan, Dallas Ft. Worth, Austin, San Antonio, and Kansas City metroplex areas.
SITUATION:
The Company is grappling with liquidity challenges, exacerbated by mounting pressures from vendors, ineffective cash management practices, and a gradual decline in business performance.
ENGAGEMENT:
In response, the Company engaged G2 to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.
OUTCOME:
G2 effectively secured agreements for reduced and more sustainable payment arrangements with several vendors. These revised plans have fostered improved relationships with suppliers and alleviated liquidity constraints, enabling the Company to concentrate on advancing its ongoing sale process and maintaining operational continuity.
DEAL TEAM:
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Exclusive Restructuring Advisor
G2 was engaged as Chief Restructuring Officer (“CRO”). Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 was engaged to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.
Exclusive Restructuring Advisor
G2 was engaged to perform a Phase 1 strategic alternatives assessment.
Exclusive Restructuring Advisor
The Company engaged G2 as its Chief Restructuring Officer. Through the CRO, G2 developed and executed liquidity management tactics for the Company and its stakeholders.
Exclusive Restructuring Advisor
G2 conducted a rapid Phase 1 Assessment and developed a report that included an assessment of the business, operations, and financial condition of the Company, short-term liquidity, near-term capital requirements, and strategic alternatives.
Exclusive Restructuring Advisor
The Company engaged G2 to assist in building the long-term financial model, a 13-week cash flow forecast, facilitate negotiations between the Company, the sponsor, and the lender group.
Exclusive Restructuring Advisor
G2 was engaged to complete a Phase 1 assessment of the Company’s financial forecasts and its ability to return to pre-COVID levels of financial performance.
Exclusive Restructuring Advisor
G2 conducted a Phase I Assessment focused on liquidity and cash flow management assessment, business and operational strategy review, refinancing options, and strategic alternatives.
Exclusive Restructuring Advisor
G2 worked alongside creditors and management to develop a Phase 1 Assessment. G2 advised the lenders with respect to the financial position of the Company.
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