Swimwear Product Distributor
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.
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Sean Cunningham has more than 20 years of experience working directly for and providing restructuring advice and services to debtors, senior lenders, and unsecured creditors. He has advised lenders and companies in numerous complex Chapter 11 bankruptcy reorganizations, liquidations, and out-of-court settlements with a particular focus on advising senior lenders.
Sean’s responsibilities have included business plan analysis and review, operational and cash flow analysis, enterprise valuation, capital restructuring and debt sizing analysis, divestiture and liquidation of distressed assets, §363 sale process, claims and recovery analysis, and debtor in possession (DIP) sizing and negotiation. He has provided interim management services as Chief Restructuring Officer (CRO) and Chief Operating Officer (COO) of various entities.
Representative Experience
- Chief Restructuring Officer to a southeast regional chain of women’s clothing outlets that subsequently liquidated through a Chapter 7 bankruptcy
- Interim Chief Operating Officer to east coast chain of medical lab services
- Represented senior lenders in restructuring $300MM of debt for a dialysis company which was subsequently sold to a large national competitor, resulting in 100% recovery to lenders
- Advised and represented a swimwear distributor in refinancing and replacing $93MM of senior obligations which defaulted due to COVID-19 shutdown
- Led the restructuring of a $160MM paper manufacturer, ultimately refinancing $45MM of senior lender obligations post-COVID
Sean Cunningham's Insights & Articles
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Article
How CR3's Clients Are Managing Through the COVID-19 Pandemic
The novel coronavirus (COVID-19) pandemic is creating rapid and unprecedented disruption and dislocation all over the world and among CR3's clients in particular.
News
CR3 Partners Adds Two Partners
CR3 Partners is pleased to announce that Sean Cunningham has joined as a Partner of the firm and will be based in its New York office. David Tiffany has been elevated to Partner of the firm in the Los Angeles office.