Barak Tulin is a creative, analytical, and effective executive with over 20 years of experience in performance improvement, restructuring and turnaround, financial planning and analysis, transaction services and general management.
The company was a family-owned $200MM distributor of swimwear products that had fully drawn on their ABL facility and left with few options, including a potential bankruptcy. CR3 Partners was retained as operational and financial advisor by President and COO to provide analysis, negotiate forbearance agreements and short-term extensions, tighten control on non-operational spending, and conduct market research for new lenders for ABL facility. Company secured new lender with lower upfront fees and less stringent covenant provisions after determining legacy lender would leave company with little cash for future growth investments.
Family-owned $200MM distributor of swimwear products servicing large national retail chains
Company was negatively impacted by COVID-19 due to retail chains shutting down
Company had purchased, fully drawn ABL facility of $90MM, and had maturity that would not be met, even with an extension
Company had few options and senior lenders were looking at a potential bankruptcy
CR3 Partners was retained as operational and financial advisor by President and COO of company at recommendation of senior lenders
CR3 Partners is proud to announce that Michael Sicari has joined the firm as a Senior Associate in the New York office. Dallas-based Partner, Mike Juniper will appear as a panelist in "Out-of-Home Entertainment: Ready for TakeOff, or Ready to Disappoint?" on May 6 at ABI's Virtual VALCON experience.
CR3 Partners Adds Manager and Two Senior Associates
CR3 Partners is proud to announce its new Manager, Mark Kennedy, and its new Senior Associate, Lee Hiles, in the Atlanta office. We also made a recent addition to its new Richmond office with Senior Associate, Katie Usera.
CR3 Partners is proud to announce the expansion of its rapidly growing Los Angeles office by adding two Senior Associates, Alex Pettee and Ashtynn Baltimore. Along with the additions to the Los Angeles office, CR3 Partners would also like to announce its new Director, Avery Alcorn out of the Houston office.