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In the News: Corporate Restructuring, Bankruptcy, and Turnarounds

Companies can use the reorganization process to implement tactical and strategic solutions that can help management identify areas to focus on in order to increase efficiencies, reduce costs and preserve corporate value, creating a strong foundation on which to restage the business. Filing for Chapter 11 bankruptcy protection offers a formal opportunity to address the strategic, operational and financial problems of an organization under the protection of the US Bankruptcy Court. While there are numerous options in any restructuring situation, a well-executed process can help identify opportunities for management to leverage as the company works to regain its financial strength.

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How Tully's Coffee found liquidity without a traditional DIP loan
ABF Journal | April 2014
When Deloitte CRG was hired as financial and restructuring advisor to Tully’s Coffee, the team quickly discovered that Tully’s was running out of cash and had to make serious decisions about their future business operations. The Deloitte CRG team stepped in to find a creative solution – securing a merchant cash advance – to combat Tully’s liquidity crisis and looming Chapter 11 bankruptcy filing. Find out more on this unique financing solution.

Cash-flow pitfalls
TMA Journal of Corporate Renewal | March 2014
Cash/liquidity is as important to a company in a distressed situation as gasoline is to an automobile. Read this article, co-authored by Sugi Hadiwijaya, and Rudy Morando, both senior managers with Deloitte CRG, to examine several liquidity pitfalls that management teams or turnaround professionals should be cognizant of and, if possible, avoid altogether.

Unearthing fraud, waste, misuse: Data analysis may boost recoveries, plug cash leaks
Journal of Corporate Renewal | October 2013
Camille Stovall, principal, and Michael Brodsky, director, at Deloitte Financial Advisory Services LLP explain how advanced data analysis can help identify where potential fraud, waste, and misuse might be happening, why it’s happening, and how to stop it.

Capturing the value
Financial Manager | October 2013
Several variables come into play when magazines and newspapers amortize the value of subscribers. Neil Heyside, director, and Carla Iavarone, senior manager, of Deloitte Financial Advisory Services LLP explain more in this month’s “Dear Expert” column.

Debtor-in-possession loan kept Tully’s brewing
CFO.com | July 17, 2013
Deloitte Financial Advisory Services LLP’s Corporate Restructuring Group (Deloitte CRG) recently advised Tully’s Coffee in its 363 asset sale. “It’s rare you take a retailer into bankruptcy and generate enough proceeds to pay all creditors in full,” says Rob Carringer, a principal with Deloitte CRG.

Till in Chapter 11 cases and the looming "efficient market" debate
American Bankruptcy Institute Journal | July 2013
The determination of cram-down interest rates in chapter 11 is not settled law, but a consensus may be developing. Read this article, co-authored by professionals of Deloitte CRG – Louis Robichaux, principal, and Russell Perry, senior manager – and McCathern PLLC to examine the U.S. Supreme Court’s Till v. SCS Credit Corp. decision, as well as what guidance exists to define and evaluate an efficient market, and the influence an efficient market may have on the determination of cram-down interest rates.

Naming rights
Franchise Times | July 2013
In this article, Gene Baldwin, director in Deloitte Financial Advisory Services LLP’s Corporate Restructuring Group (Deloitte CRG), discusses the value of branding in the restaurant industry, and ways to preserve “the brand” even as the operating companies come and go.

Deloitte: Turnarounds and democracy don’t mix
Bloomberg Law | April 29, 2013
According to a recent Deloitte webcast poll, even though communication is overwhelmingly ranked as the most important leadership principle during a time of change, corporate leadership teams are reluctant to update employees during crises. William Snyder, principal and co-leader of the Deloitte Corporate Restructuring Group, speaks with Bloomberg Law about the results. Watch the video to learn more about the poll results and their implications.

Bankruptcy beat snapshot: Sheila Smith
Wall Street Journal | April 5, 2013
Sheila T. Smith, principal, Deloitte Financial Advisory Services LLP has been named restructuring services leader for the Americas region. Smith shares the news of her new role with The Wall Street Journal’s Bankruptcy Beat blog explaining, “My role is really more about finding the connectivity, the synergies across the geography.”

 

 

As used in this document, “Deloitte” means Deloitte Transactions and Business Analytics LLP, an affiliate of Deloitte Financial Advisory Services LLP. Deloitte Transactions and Business Analytics LLP is not a certified public accounting firm. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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