CONTACT US
Do you have any further questions? How can we help you? Get in touch with us.
Peter Feigenbaum
Talent Leader & Director, Other Professionals
Peter Feigenbaum has more than 30 years of experience in retail performance improvement, turnaround, and restructuring services across a wide variety of companies and industries.
William Snyder
Partner, Partners
With executive and entrepreneurial experience spanning close to 40 years, William Snyder has restructured, managed, and guided a multitude of companies in a wide variety of industries.
- Created revised purchasing plan
- Developed a bricks and clicks segment strategy
- Inventory management improvement plan
The client is an omnichannel mall retailer with several hundred stores across North America. Several years of declining sales led to 300+ stores closings while the online business grew to approximately 1/3 of the sales. The CR3 team took four weeks to complete an assessment and issue a report to management. Utilizing a revised purchasing plan, the client successfully met sales goals for the season. CR3 followed up with a segment analysis which revealed a potential strategic plan for a bricks and clicks strategy that had not been previously explored, developed a detailed plan around the improvement of inventory management, and oversaw pursuit of these plans.
The Situation
- Omnichannel mall retailer with several hundred stores across North America - specializes in personalized gifts and engraving
- Several years of declining sales led to 300+ store closings, though online business was robust and had grown to approximately 1/3 of the sales
- Major consulting firm assisted in a complete restructuring of operations and the balance sheet, yet one year after the restructuring, the downward trend had not been reversed and in some areas had accelerated
The Work
- Financial Advisor
- Performed assessment of liquidity, current year business plan, evaluated store, merchandise and promotional initiatives, inventory productivity, marketing efficiency and segment profitability
- Completed four-week assessment and issued a report to management which contained findings, conclusions, recommendations and milestones
- Client went on to implement most of the recommendations with the approval of the Board of Directors
The Results
- Utilizing the revised purchasing plan, client successfully met sales goals for the season
- CR3 followed up with a segment analysis which revealed a potential strategic plan for a bricks and clicks strategy that had not been previously explored
- CR3 developed a detailed plan around the improvement of inventory management and oversaw pursuit of the plan
Explore Insights
View All
Article
Keys to Ensuring a Successful Roll-Up
Roll-up mergers can create significant value through scale and cost savings, but not all roll-ups perform as expected. Speed of integration may be the most challenging factor when acquiring and consolidating multiple assets.
External Link
The JCPenney Bankruptcy: An inside view from a shareholder perspective
Reed Smith's Keith Aurzada joins William Snyder and Dawn Ragan, both of whom served as financial advisors to the equity committee in the JCPenney case. Our speakers explain the valuation of JCPenney assets and how restructuring support agreements shaped this case.
Article
How Much Capital Do Companies Need for Post-COVID Recovery, and Who Will Provide It?
CR3 Partners' clients and referral sources agree that additional capital will be needed to return operations to the "new normal" after COVID-19. But how much capital will they need, where will it be deployed, and who will provide it?
Video
CR3 Conversations: Restaurant Industry During COVID-19
The restaurant industry has been one of the hardest-hit industries during COVID-19. Director, Kep Sweeney, gives advice on how to best navigate through it and shares what his current client has done to actually improve during these difficult times.
News
CR3 Partners Adds Two Partners
CR3 Partners is pleased to announce that Sean Cunningham has joined as a Partner of the firm and will be based in its New York office. David Tiffany has been elevated to Partner of the firm in the Los Angeles office.
News
CR3 Partners Honored with Two Turnaround Atlas Awards at 2019 Global M&A Network Annual Gala
CR3 Partners is pleased to announce that the firm was awarded two Turnaround Atlas Awards on May 20, 2019 at the Global M&A Network Annual Gala.
External Link
CR3 Partners Advises NEOPS Alongside SSG Capital on Sale of Debt
SSG Capital Advisors, LLC (SSG) acted as the investment banker to New England Orthotic & Prosthetic Systems, LLC and its affiliates in the sale of all of its outstanding senior debt to AHM Healthcare Strategies (AHM), an affiliate of Eschen Prosthetic and Orthotic Laboratories, Inc. (Eschen).