Case Studies

Our professionals have worked with companies and constituents across multiple industries to drive meaningful and lasting change. Each of our case studies summarizes our client's situation, our scope of work, and how the engagement team created value for all constituents.

JCPenney

JCPenney

JCPenney is a publicly traded company with 846 corporate locations and 12B in annual revenue that elected to file Chapter 11 bankruptcy due to COVID-19 shutdowns, C-suite turnover, and changes to the business and merchandising plans.

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Drilling & Services Company

Drilling & Services Company

The company is a $160MM oil and gas drilling and heavy-haul moving company with operations in multiple locations. A drop in oil prices caused a reduction in rig fleet utilization, EBITDA and cash flow, which caused the company to default on its term loan and revolving line of credit.

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OCTG Manufacturer & Distributor

OCTG Manufacturer & Distributor

The company is a leading manufacturer and supplier of Oil Country Tubular Goods in the petroleum industry. Suffering from the oil price drop and high levels of high-cost inventory, they were at risk of covenant defaults and availability restraints.

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Retail Marketing Company

Retail Marketing Company

The company was a large consumer products marketing company that had experienced a decline in liquidity, was anticipating continued near-term declines, and had concerns about missing covenants due to an expected 50%+ decline in EBITDA.

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Soup & Sandwich Chain

Soup & Sandwich Chain

The company was a 300-unit privately held, soup and sandwich chain experiencing declining EBITDA despite stable or higher sales, inconsistent performances from different configurations and expansions, and underperforming relative to company projections.

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Electrical Connectors

Electrical Connectors

The company was a private equity-backed international manufacturer of electrical connectors and capacitors supplying a range of end markets including automotive, commercial and industrial, vending, and HVAC.

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Integrated Construction

Integrated Construction

The company is a $100MM designer, manufacturer, and installer of glass and metal enclosures for mid-rise and high-rise buildings with a strong sale backlog. Engineering, financial systems, and field management infrastructures were unable to keep pace with the growth.

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Digital Media Services Provider

Digital Media Services Provider

The company is a $68MM private distribution, logistics, digital media, and licensed merchandiser with 250 employees. Following loan default and continued poor communication with the lender, the company hired CR3 partners to assess the business and ultimately engaged a member of the team as interim CFO.

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Outdoor Advertising

Outdoor Advertising

The company creates and executes advertising campaigns in multiple outdoor venues such as gas stations, buses, trucks, restaurants, bars, and ski resorts.

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