Publicly held supermarket chain with over $10.5 billion in sales and $1.0 billion in debt.
- Alignment/span of control issues in corporate infrastructure.
- Costs of carrying vacant leased properties.
- Intense competition in quality and price led to diminished market position and a string of costly attempts at improvement.
- As one of the debtor’s senior advisors, coordinated the sale of store locations and the liquidation of inventory and fixed assets within 3 months, including the planning and development of financial projections to gain board and creditor support.
- In conjunction with other advisors and company senior management, analyzed the corporate infrastructure and rationalized an administrative headcount reduction in line with site closings.
- Participated in multiple aspects of preparing for the Chapter 11 filing including first day motions and coordination with debtor’s counsel.