Broadway Advisors was awarded the 2011 TMA Mid-size Transaction of the Year Award as a result of the successful turnaround of Z Gallerie Inc. Z Gallerie is a national retailer of specialty furniture and home furnishings with $236M in annual sales and over 100 locations.

Engaged as financial advisors to the Company, Broadway Advisors immediately identified a serious liquidity crisis and took aggressive steps to control and manage cash including making the tough decisions to close over 30 unprofitable stores. By identifying those unprofitable stores and closing the Atlanta warehouse, Broadway Advisors was able to stabilize cash flow from operations.

Broadway then worked with the company’s equity holders to develop a “new value” Plan of Reorganization that resulted in the Unsecured Creditors receiving a distribution of over 50%.