Furniture Retailer

KCP_Retail

Provided restructuring and Chapter 11 advisory for what was then, the eighth largest, nationwide furniture retailer with sales of $680 million.

Challenges Faced

  • Strained relationships with suppliers due to late payments and eventual shutdown of shipments.
  • Negative publicity and unreliable delivery to consumers led to sharp decline in sales.

Solutions Delivered

  • As debtor’s senior advisor, led administration of Chapter 11 filing.
  • Worked with claims agent and counsel on various court filings. 
  • Oversight of daily financial and operational activities, including liaison, settlement and negotiation with vendors and third party liquidators, cash flow forecast and management activities.
  • Identified and initiated actions to recover $200 million of preference payments.