Case Study

TLC Vision

CLIENT: Senior secured lenders to TLC Vision ("TLC")

Gordian Group served as financial advisor to a group of senior secured lenders in connection with the reorganization of a publicly traded provider of diversified eye care services.

Business Profiles

Situation

TLC was a publicly traded eye care services company that owns and operates refractive centers, furnishes doctors and medical facilities with mobile or fixed-site access to refractive equipment, and an eye care franchisor. In early 2009, the Company started having problems with certain segments of its operations as well as a capital structure it could not support.

Engagement

Gordian Group served as financial advisor to a group of Senior Secured Lenders in connection with the reorganization of the Company.

Outcome

Gordian Group successfully negotiated a par recovery plus accrued interest for the group of Senior Secured Lenders via a third-party plan of reorganization.