ABOUT THE COMPANY:

The Company is a family owned business who is a leading supplier of arts-and-crafts products including tools, mediums, paper stickers, and food crafting products across 30 owned and private label brands. The Company serves more than 1,400 customers in North America.

SITUATION:

The Company was negatively impacted by the market including rising freight costs, delays in getting products and retailers pushing out orders.

ENGAGEMENT:

The Company engaged G2 to assist in rebuilding their 13-week cash flow, monitor liquidity, and monitor their 2024 budget.

OUTCOME:

G2 quickly negotiated a change of control with lenders, and the lenders took control of the business. G2 also quickly inserted an interim CRO.

DEAL TEAM:

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Exclusive Restructuring Advisor

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Exclusive Restructuring Advisor

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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

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G2 was engaged to facilitate negotiations for more favorable payment terms with key vendors, aiming to optimize cash flow management.

Exclusive Restructuring Advisor

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G2 was engaged to perform a Phase 1 strategic alternatives assessment.

Exclusive Restructuring Advisor

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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

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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

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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

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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

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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

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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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