Publicly Held Consumer Products Technology Company

Description: Developer of VCR+ Instant Programmer

Challenge: Develop an effective way to profitably market the concept beyond the initial product offering.

Actions: Created and implemented worldwide strategy to entice newspapers and television guides to publish VCR PlusCodes that created consumer demand for the technology. Responding to that consumer demand, manufacturer’s agreed to pay a licensing fee for the technology.

Results: The Company grew to a valuation of multiple billion dollars and eventually purchased TV Guide from Rupert Murdoch. Currently the world’s leading provider of Electronic Program Guides.


Major Daily Newspaper

 

 

DescriptionSecond newspaper in a major metropolitan area.

ChallengeCirculation was falling and was controlled by the rival regional newspaper.

ActionsHelped design new information system for circulation. Reviewed operations of the Circulation Department and suggested changes.

Results: The paper took control of its own customer base and increased circulation.

 

Privately Held Early Stage Communications Company

 
 

 

 

Description: Company formed by a consortium of competitors to develop the standards for high-definition radio for the AM and FM broadcast bands.

Challenge: Build consensus on the direction and strategy for the company.

Actions: Restructured the limited partnership, changing general partners. Brought in Lucent as a joint technical development partner. Set the stage for additional investments from other broadcasters and venture capital firms. Set the stage for approval as a standard at the FCC through a petition for rule-making.

Results: Additional investors came in. Product is now close to launch.

Publicly Held Specialty Apparel Retail Chain

 

Description: Private label apparel with over 50% of the product manufactured in Asia. The Company had embarked on a rapid expansion program increasing the store count by 50% over a three-year period and reaching revenue of $250M.

Challenge: Sales had declined by 25% during the previous year and the Company was forced to file for bankruptcy protection. The business had to be stabilized, creditors confidence restored and an acceptable plan of reorganization prepared. Unsecured Creditor claims amounted to approximately $60 Million.

Actions: Worked with Creditors and Vendors to restore confidence, prepared alternatives for a plan of reorganization. Managed the financial and related operations of the business.

 Results: A Plan of Reorganization was approved and the company successfully emerged from Chapter 11. Subsequent to the reorganization, the company experienced two consecutive years of more than 6% pretax profits. Creditors from the bankruptcy proceeding received a return in excess of their claim value and pre-petition equity holders realized value from their holdings. 

 

Publicly Held Men and Women’s Private Label Apparel Retailer

 

Description: The Company’s revenue had fallen significantly ($146M to $90M in three years), although store count had increased by 40% through an acquisition.

Challenge: Company had operating in Chapter 11 for six months and had failed to prepare a plan of reorganization.

Actions: Completed a thorough assessment of the business, and prepared and implemented a plan of reorganization

Results: Managed the Company’s Chapter 11 process including negotiating its reorganization plan and emergence from Chapter 11.

  • Successfully raised $30,000,000 in new equity investment and bank financing as well as obtaining a substantial Federal Income Tax refund utilizing a little known feature in the tax code.

Publicly Held Vertically Integrated Multi-Channel Consumer Products Company

 
 

 Description: Bath and body products, cosmetics and fragrances. The Company developed and manufactured its products through its own manufacturing capabilities and third party contractors. Company marketed its products through company owned retail stores, catalog and website, as well as through wholesale channels. 

Challenge: Sales volume had dropped from $103 Million to $70 Million during the preceding two-year period and accumulated large losses. The Company had tripled its store count over a three-year period subsequent to an IPO. Three years after the IPO the company filed for bankruptcy protection. A new business plan was required by the creditors committee to justify continued operations.

Actions: Completed a thorough assessment of the business, and prepared a new business plan that changed the business strategy and operating structure which provided a basis for the continued operations of the business.

 Results: The Creditors Committee agreed to the redirection and allowed time for the restructuring efforts. The Company was sold as part of the plan to finalize the Chapter 11 process.