Case Study
Conducting a Business Assessment & Refinancing and Managing Liquidity
The Situation
One of the largest domestic retailers of ultra-luxury eyewear and operator of specialty retailers offering an assortment of optical frames and sunglasses from various luxury brands was encountering working capital and liquidity issues. The Company engaged Mackinac Partners (acquired by Accordion in 2021) as financial advisors – beginning with a detailed Business Plan Assessment.
Services
Strategic Business Assessment
Liquidity Management
Performance Improvement
Refinancing
The Execution
- Evaluated business performance and capital requirements in performing an evaluation of strategic options for the Company.
- Assisted the Company with liquidity forecasting and cash management and control.
- Identified working capital improvement opportunities to help address core liquidity issues.
- Performed an assessment of store bases and identified performance improvement initiatives.
- Conducted asset rationalization analysis to improve operating efficiencies and boost the bottom line.
- Assisted with the Company’s re-financing, including the development of lender and board communication packages, lender communication strategies, and the delivery of strategic alternative plans to support the re-financing and turnaround process.
The Results
Our team provided financial advisory services in support of a refinancing and M&A process. With our assistance the Company was able to successfully refinance its debt obligations with its existing lender including additional financing to support its turnaround and growth plans.