The company was a $140MM roll-up of eight companies that produced high-end, retail store fixtures. The company suffered from declining revenues and EBITDA dropped to nearly zero with a balance sheet containing over $100MM in debt. The sponsor equity group successfully negotiated an out-of-court restructuring significantly cutting debt in exchange for limited equity. CR3 professionals were retained as CRO and facilitated a multi-pronged operational improvement plan. The results included successful termination of two leases, saving the company over $6MM in future payments, reduced manufacturing lead time, streamlined corporate financials, boosted employee morale, and the elimination of nearly $12MM in annual fixed costs.