Gordian Group advised the creditors committee in connection with the successful sale of the Company.
Case Study
Plaid Clothing Group
CLIENT: Official Committee of Unsecured Creditors
Business Profiles
Situation
Plaid Clothing Group was the second largest manufacturer of men’s and boys’ tailored clothing under licensed brand names in the United States. The Company experienced losses resulting from declines in sales and income, industry competition, layoffs during the recession of business executives (consumers of high-end tailored clothing) and the generally soft retail industry.
Engagement
Gordian Group was engaged by the Official Committee of Unsecured Creditors (the "Committee"), as its financial advisor in connection with Plaid’s Chapter 11 proceedings. The Committee hired Gordian Group because the Debtor was exploring the sale of all, or part, of its business and the committee sought to take an active role in any potential sale.
Outcome
Gordian Group analyzed the Debtor’s business plan and sale strategy and protected the Committee’s interest in the successful sale of the Company to a prominent menswear manufacturer.