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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.
Buca di Beppo
$180MM national Italian restaurant chain that defaulted on its loan and had ceased interest payments. CR3 Partners was initially engaged to assess the company's cash position, but quickly transitioned to CRO.
Coach USA
A passenger transportation company that faced a decrease in passenger counts caused by the COVID-19 lockdowns and never recovered to pre-COVID levels. CR3 Partners was engaged to assess the company's liquidity, evaluate strategic options, and assist with financial preparations.
Hotel Portfolio
A $60MM eight-hotel portfolio was experiencing a liquidity strain due to a decrease in hotel guest traffic, resulting in a filing for bankruptcy proceedings to restructure its operations and liabilities.
Home Security Provider
The company was a $4MM recurring monthly revenue (RMR) home security provider to homes and businesses in the eastern U.S. with over 200 employees. After it became clear that the sale process would not yield a full recovery to the company's lenders, CR3 was engaged to provide a CRO and additional personnel.
Express Grain Terminals
Express Grain Terminal was a $165MM family-owned grain elevator and crushing operator trading in corn and soybeans and bean byproducts that filed for Chapter 11 bankruptcy protection after the secured lender moved to dismiss management and appoint a receiver.
Ruby Tuesday
The company was a $300MM private equity-owned casual dining restaurant that experienced sales declines due to industry trends and the COVID-19 pandemic, forcing the company to file for Chapter 11 bankruptcy to reorganize.
Heavy Oil Producer
The company is a $24MM exploration and extraction company that produces heavy oil. The company filed for bankruptcy to avoid foreclosure by lenders, who petitioned for the appointment of a Chapter 11 Trustee.
Francis' Drilling Fluids
The $100MM energy services company with over 500 employees and operations in seven states. The company implemented various cost savings initiatives, but cash flow still could not support its debt structure, and the company was unable to make monthly principal and interest payments.