Broadway Advisors was retained as the financial advisor to the Official Committee of Unsecured Creditors to evaluate the company’s turnaround plan.

Broadway personnel developed a store level cash flow analysis to independently evaluate the company’s prospects for a successful turnaround.

The model provided for a four-wall profit analysis of each location to determine which stores should be closed and corresponding leases rejected and to evaluate other restructuring alternatives as proposed by the company.

During the engagement, Broadway worked directly with company management and the debtor’s financial advisors to arrive at a consensual turnaround plan designed to return the company to profitability.