Spencer  Ware

Spencer Ware

Senior Managing Director | Partner

Spencer Ware is a turnaround and restructuring expert with over 20 years of restructuring and turnaround experience developing comprehensive business solutions in complex situations. As a leader of domestic and international teams, he has advised a wide range of key stakeholder groups, including corporations, JVs, boards, senior executives, and creditors, ranging from lenders to suppliers.

Prior to CR3, Spencer has worked at AlixPartners, Zolfo Cooper, and Riveron. He has received awards from M&A Advisor as the Turnaround Consultant of the Year; the American Bankruptcy Institute (ABI) in their 40 Under 40 list; the New York Institute of Credit (NYIC) as their Future Leader of the Year. His cases have received deal of the year recognition from the Turnaround Management Association (TMA), ABI, M&A Advisor, and Turnaround Atlas. He has served on wide range of professional and non-profit boards, is a regular author, speaker on panels, and lecturer at several academic and industry classes, and is sought after by new outlets on the topic of restructuring.

Representative Experience
  • CRO of Coach USA, a passenger transportation company and the largest bus operator in the U.S., which was recognized as the Transaction of the Year from the M&A Advisor and the Asset Sale of the Year from the ABI. 
  • CRO of Eastern Outfitters, an outdoor clothing and equipment retailer including Eastern Mountain Sports and Bob’s Stores. His work earned him recognition from Turnaround Atlas, M&A Advisor, and the TMA’s Mid-Sized Transaction of the Year Award.
  • Hired to serve as CRO for several companies, including BH Cosmetics, Dress Barn, Linens-N-Things, Modell’s Sporting Goods, Peir 1, RadioShack, Ralph & Russo, Stein Mart, The Book People and The Franklin Mint.
  • Other officer roles through a Chapter 11 restructuring, including JCPenney as Treasurer and BH Cosmetics as CEO.
  • Other select clients include Aegerion Pharmaceuticals, Akorn Pharmaceuticals (Buyer), American Red Cross of NY, Calpine, CEVA, City of Detroit (Ad Hoc Group of Mono-Line Insurers), Claire’s Stores (Lender Group), Enron, Fairway Market, General Growth Properties, Gymboree, Howard Huges Corporation, Krispy Kreme, Media General, Mirant (Lender Group), Party City, Port Authority of Puerto Rico, Provo Craft, SemGroup Energy Partners, Staples, Toys R Us, and TOUSA.

Spencer Ware's Insights & Articles

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Respect Your Retail ABL Lender
Article

Respect Your Retail ABL Lender

Asset based loans (ABLs) are used by most retailers because they are secured by physical assets, in most cases inventory and accounts receivable (AR), thus they have a higher likelihood of being repaid in the event the company becomes distressed.

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CR3 Partners Adds New Partner to New York Office
News

CR3 Partners Adds New Partner to New York Office

CR3 Partners continues to add professionals across the U.S. to serve its growing client base and is pleased to announce that Spencer Ware has joined as a Partner of the firm in our New York office.

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Project Work

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Coach USA

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.
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Luxury Home Goods Retailer

Luxury Home Goods Retailer

A $100MM+ luxury home goods retailer with significant sales deterioration that was very close to tripping their financial covenants. CR3 Partners was engaged to provide a comprehensive store assessment, recommending immediate store closure actions, potential go forward strategies, and estimated cash flow impact.
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