THE CLIENT
A leading $400 million grocery chain with nineteen retail locations throughout Northern California.
THE SITUATION
The chain lost 85% of its workforce due to an immigration audit. As a result, it filed Chapter 11.
THE SOLUTION
Engaged after the Chapter 11 filing, Avant Advisory Group prepared an operational restructuring plan to drive implementation of new training procedures and protocols to improve business operations. Additionally, we prepared the Company and its management and then facilitated the process of obtaining new financing. We also helped in the hiring of an investment banker in the event of a potential sale of the business.
THE RESULTS
We established clear lines of communication with all constituents to facilitate the plan process. Our efforts enabled the preservation of the enterprise and the equity value for the founder. We stabilized operations and sales, including cash management to support the business. The lender was paid in full upon sale of the Company.