Providing financial and M&A advisory in the sale and partial wind-down of a salon operator​

Picture this...

You’re an operator of approximately 90 hair salons. In the wake of the COVID-19 pandemic, your company suffers ongoing operating losses and you’ve largely exhausted your remaining capital resources. You need help selling your remaining salons and orchestrating an orderly wind-down of the business. ​

You turn to Accordion.

We step in as interim CFO and financial advisors to lead efforts on: ​

• Engaging potential buyers.​
• Negotiating terms of an asset sale.​
• Meeting with landlords to discuss consents and lease assignments.​
• Negotiating with the franchisor.​
• Successfully closing a sale and transitioning the employees and operations to a new buyer.​

​

Throughout the process, we take full ownership of the liquidity management and treasury process to ensure there is adequate capital to see your company through the sale, while also satisfying outstanding liabilities. After the closure of the sale, we fully manage the business during the transition period and complete an orderly out-of-court wind-down of the remaining obligations.​

Your value is enhanced.

By successfully closing the sale, hundreds of jobs are saved and the significant remaining lease liabilities are assigned. This allows your company to avoid formerly entering into a disorderly bankruptcy filing, which would have carried the typical negative publicity and risks. Furthermore, we negotiate significant amounts of deferred rent abatements, discounted accounts payable settlements, and discounted contract settlements, which is critical in enabling you to successfully wind-down the business with the limited existing capital resources available. After resolving the lion’s share of your remaining obligations, we ultimately complete an Assignment for the Benefit of Creditors, allowing for a discreet and graceful exit by all remaining parties involved.​