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.
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With over 30 years of experience in business consulting, corporate management and restructuring, Greg Baracato has substantial expertise in rendering financial advisory and reorganization services on behalf of varied stakeholders in the restructuring and turnaround arena.
His U.S. and international industry experience includes evaluation of operations, developing reserve-based borrowing capacity models, public offerings converting debt to equity, bank group negotiations, and cost reduction initiatives. Greg is an active member of the restructuring professional community and served as President of the DFW Chapter for Turnaround Management Association.
Representative Experience
- Financial advisor in the Chapter 11 restructuring of Diamondback Industries, an oilfield services company based in Texas. Restructuring was due to $40MM IP judgement and settlements, resulting in creditors being paid in full.
- CRO of MDC Energy, an E&P company based in Midland, TX that filed Chapter 11 bankruptcy due to a downturn in oil prices.
- CRO to ValuePart, an industrial parts distributor resulting in an award-winning, successful Chapter 11 reorganization.
- Interim CFO to Holze Music, the 35th largest music retailer in the US. Assistance included turning around the operations, implementing new accounting processes and procedures and transitioning company to a new financial team.
- Interim CFO to Capital Associates International, a public company that leased industrial equipment and funded the leases with a series of public and private income funds. Oversaw delisting of the company to take it private.
Greg Baracato's Insights & Articles
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Article
The Effect of Mechanic's Liens in the Oil and Gas Industry
Recent trends in the Oil and Gas industry, particularly the decrease in prices for crude and natural gas, suggest that mechanic's liens are quickly becoming a problem for exploration and production companies.
News
CR3 Partners Honored with Two Turnaround Atlas Awards at 2019 Global M&A Network Annual Gala
CR3 Partners is pleased to announce that the firm was awarded two Turnaround Atlas Awards on May 20, 2019 at the Global M&A Network Annual Gala.
News
CR3 Partners Honored with Turnaround Award at 12th Annual Gala by M&A Advisor at 2018 Distressed Investing Summit
CR3 Partners, a Dallas-based national turnaround and performance improvement firm, today announced that the firm was awarded a 2018 Turnaround Award for "Ch 11 Reorganization of the Year for ($25-100MM)" by M&A Advisor in the "Chapter 11 Reorganization Award" category.
News
Industry Veterans Combine to Launch National Turnaround and Performance Improvement Firm
The leadership of CR3 Partners, LLC, today revealed the details of their newly-formed national turnaround and performance improvement firm.
Project Work
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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.
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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.
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