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$500 million revenue, privately held; $75 million multi-bank credit facility
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Background:
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Cash availability was being 'squeezed' by the banks as the Company's
retail business experienced a serious downtrend for more than 1-1/2 years.
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Result:
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Wimmer Associates assessed both the 109 store retail business and the
computer manufacturing operation. A plan was developed and implemented
that liquidated the 109 retail stores in just 20 weeks. The
Company survived an industry shake-out and was able to secure financing from new
lenders and equity sources.
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