Case Study

Chief Restructuring Officer and Financial Advisor

We served as Chief Restructuring Officer and Financial Advisor to Simply Interior Homes in connection with its Chapter 11 proceedings.

Company

Simply Interior Homes

Location

United States

Industry

Consumer / Wholesale

Simple Interior Homes Case Study: Chief Restructuring Officer and Financial Advisor

Chief Restructuring Officer Simply Interior Homes

The Situation

Simply Interior Homes is a distributor of home goods products and the owner/licensee of various recognizable brands including Kate Spade Home Goods, Hookless, and Eclipse. We were engaged to facilitate the company's restructuring within a Chapter 11 bankruptcy proceeding.

Strategy & Execution

We designed and executed a multi-phase realization strategy in close collaboration with the company's lenders to take control of the company by exercising their proxy rights after SIH's sponsors declined to provide incremental capital. The Chapter 11 proceedings were used to liquidate a substantial portion of the company's inventory, collect outstanding accounts receivable, and conduct sales of intellectual property and other assets pursuant to Section 363 of the U.S. Bankruptcy Code to maximize value.

Outcome

The majority of the company's owned brands were acquired by strategic competitors, resulting in continuity of the business for many of SIH's key stakeholders.