Appointed Sua Sponte as Receiver in Delaware Chancery Court. Then served as Responsible Party through Chapter 11 that raised cash through asset sales, avoided preferences and fraudulent transfers, and settled D&O claims resulting in approximately $5mm gross proceeds.Learn more »
Force 10 professionals have decades of experience working with companies and stakeholders that rely on a strong economy to drive discretionary spending on goods and services, including dining, travel, and luxury items.
Traditional business models often saddle companies with high fixed costs, including a real estate footprint that exceeds their needs given changing paradigms for remote work and online spending. Consumer-facing companies must accelerate adoption of new technologies, business models, and legal tools, to grow and defend revenue and manage costs. When a company requires a rapid transformation to find its way back to profitability, Force 10 is ready to lead or assist in the effort. We provide restructuring services that go far beyond the balance sheet to businesses across consumer sectors.
Force 10’s restaurant and retail practice group advises companies in distressed situations facing complex financial and operational issues. Force 10’s deep experience representing restaurant concepts and franchise groups has led to numerous successful in- and out-of-court work-outs and restructurings. Within these engagements we have served as chief restructuring officer, financial advisor to the debtor, and financial advisor to the Official Committee of Unsecured Creditors.
Some of our typical work streams are as follows:
- Developing detailed liquidity forecasts to assess various strategic options
- Assessing 4-wall operating performance
- Partnering with management and the board of directors to analyze and improve operating performance
- Assessing rack and stack location options for allocation of capital
- Negotiation of leases
- Jettisoning of unprofitable locations
- Creating and negotiating reorganization plans
- Evaluating capital structure
- Sourcing debt financing
Served as Expert Witness on Plan feasibility for VER, a creditor of BII. Our compelling testimony resulted in an agreement and stipulation for more favorable Plan treatment for our client.Learn more »
Took assignment and sold the assets of this high-concept Southern California based restaurant chain in a manner in which the buyer was able to immediately restart operations. Settled litigation claims with secured creditor and others.Learn more »
Financial Advisor to the Debtor. 363 Sale to lender and strategic partner - Gunthy-Renker.Learn more »
Represented Foxconn, the largest claimant and supplier, with respect to the Chapter 11 bankruptcy of Fuhu. Assisted in settling cross-claims and reduced Foxconn's potential exposure.Learn more »
Principals of Force 10 served separately as financial advisor and investment banker to the Debtor, and legal counsel to bidder. Navigated intricate inter-creditor issues. Plan of reorganization was funded by the sale of media and real estate properties.Learn more »
KP3 was placed in an involuntary Chapter 7. Force 10 provided the solvency opinion and expert testimony to demonstrate that the Debtor was indeed solvent. Case was dismissed.Learn more »
Force 10 represented the general unsecured creditors in a highly contested Plan of Reorganization that resulted in a conversion to an operating Chapter 7 to remove control from the Debtor's insiders.Learn more »
Force 10 provided the Chief Restructuring Officer. Working closely with the senior lender and creditors’ committee, Force 10 managed the restructuring process and successfully negotiated a joint consensual Plan of Reorganization between Scoobeez, the official committee of unsecured creditors, and Hillair Capital Management, LLC, the senior secured lender, to allow the emergence from bankruptcy with a new capital structure.Learn more »
Retailer succumbed to the pressure of omnichannel competitors. Executed on orderly liquidation to maximize recovery to creditors.Learn more »
Conducted valuation and 363 sale resulting in sale to management's highest and best bid. Plan of Reorganization settled outstanding claims.Learn more »