Broadway Advisors was retained as a financial advisor to this international leader in designing, developing and manufacturing user focused fitness equipment.
We developed and negotiated an out-of-court restructuring plan that included the negotiation of individual payment plans with over 90 trade creditors that allowed the company sufficient time to work through a restructuring of its secured debt.
In addition, Broadway was responsible for negotiating payment plans on over $6M of past-due payables with key Chinese suppliers to provide parts critical to the manufacturing of its equipment.
While working with its lender to restructure its $30M in secured debt the company received an offer to purchase 100% of its equity.
Broadway Advisors served as the seller’s financial advisor in negotiating the sale of the company, including coordination of due diligence by the buyer’s financial advisors and advising the company through its Assignment for Benefit of Creditors in order to facilitate the sale.