Chief Restructuring Officer

Petaluma, CA

Business activities include designing, manufacturing and marketing high performance branded bags, packs, cases, tripods, and other products designed to carry, protect, and enhance the functionality of imaging equipment and overall electronic devices. Own and operate 3 brands: Lowepro, Joby and Acme Made.

CMA professionals represented the Company over a 12+ month period on both a consensual restructuring with their Senior Lenders and on operational improvement initiatives to increase liquidity and improve profitability.

Key Challenges
Leveraged Capital Structure
Out-of-Court Restructuring
Low Liquidity
Retrenched/Enthusiast Market
Complex/International Structuring
Inventory Management

Engagement Highlights

  • Worked with management in the development of a long-range plan which delivered the operating leverage of the business to improve profitability.
  • Advised on inventory management issues including purchasing levels and A,B,C SKU development – both of which helped the Company reduce inventory by $12+ million over a 10-month period.
  • Advised in the ultimate consensual restructuring with the Senior Lenders.
  • Worked with management and legal professionals in the structuring a deal to prevent unfavorable tax penalties in foreign jurisdictions as a result of cancelling outstanding Senior and Junior debt obligations.

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