industry
Real Estate, Hospitality & Construction

Acting as CFO/CRO for a high-end restaurant chain’s restructuring and §363 sale​

Key metrics:
  • Successful Chapter 11 restructuring
  • §363 sales process​​​
Value levers pulled:
  • Interim CFO
  • CRO
  • Liquidity management
  • Performance improvement

Picture this...

You’re an operator of high-end Italian restaurants with around 15 locations throughout the US. You’re encountering significant liquidity constraints due to operational issues and underperforming expansion restaurants. You need help managing liquidity and operations, assistance in providing turnaround services, and assessment for the long-term business outlook. ​

You turn to Accordion.

We jump in as financial advisors and interim CFO, and partner with your team to provide stakeholders with an improved liquidity plan, re-assess operational and financial processes, and help adapt to rapidly changing situations. By developing a 13-week cash flow model, we size the liquidity gap and provide comfort to the senior lenders to fund incremental working capital support. Specifically, we:

  • Manage strained vendor relationships and the weekly payables process.
  • Develop a long-term business plan model to assess profitability and business value potential.
  • Identify cost-saving opportunities and incorporate new pricing strategies.
  • Develop nonexistent FP&A functions such as monthly reporting and the annual budget process.
  • Support management in unit profitability and strategic analysis.

After the COVID-19 outbreak forces closures, we reduce our role due to the limited ongoing operations. After an abrupt bankruptcy protection filing, we re-engage as CRO to successfully guide your company through the Chapter 11 process.

Your value is enhanced.

You successfully navigate bankruptcy and go through a sale in a §363 auction process. Additional transition services to the new ownership help you emerge from bankruptcy and re-open restaurants after COVID-19.

Enhanced value:

You reap multiple benefits, including:

  • Successful Chapter 11 restructuring
  • §363 sales process​​​