Gordian Group advised the Company in connection with its successful restructuring.
Client: Safeguard Business Systems
Gordian Group was engaged in 1999 to advise Safeguard and its corporate parent with respect to various alternatives
Over the course of many months, Gordian Group examined a number of capital markets alternatives, and engaged in a series of discussions with Safeguard’s major creditors. These discussions led to additional financing, as well as to a moratorium on certain creditor payments. This increased financial flexibility allowed management the wherewithal to improve operations significantly. As a result of continuing discussions with the creditor constituencies, Safeguard was able to achieve a consensual resolution with its major creditors whereby most of the company’s debt was converted into equity.
In connection with this restructuring, Safeguard’s old equity constituency achieved an attractive recovery.