Case Study

Liberty House

CLIENT: Liberty House Equity Holders

Gordian Group was engaged by the equity holders of Liberty House in connection with the Company’s bankruptcy, and which included developing plans of reorganization, providing expert witness reports in respect of valuation, negotiating with the Company’s constituencies and achieving a highly successful outcome for the equity holders.

Situation

Hawaii’s largest retailer, Liberty House (approximately $300 million in revenue), had been in Chapter 11 for some time when Gordian Group was engaged by its equity owners. The situation was, and had remained, highly litigious, and Liberty House was governed by two Boards of Directors.

Engagement

Gordian Group was engaged by the equity holders of Liberty House in connection with the Company’s bankruptcy. Gordian Group’s tasks included: (i) working with counsel to provide strategic advice to the client, (ii) working with retail consultants to develop comprehensive alternative business plan scenarios and valuations of Liberty House, (iii) preparing expert witness reports in respect of valuation, (iv) developing plans of reorganization favorable to our client’s interests and, (v) negotiating with the other constituencies in the case.

Outcome

The case was settled on the eve of the trial in Hawaii, with a highly successful result for Gordian Group’s clients.