Distressed/Restructuring/Bankruptcy

Expertise:       
Trinity Capital has advised on over $25 billion of distressed/restructuring assignments involving companies with total debt of approximately $5 billion.  Our professionals have substantial experience in advising distressed companies on capitalization and liquidity strategies to return to viable, profitable enterprises.  This expertise extends to both out-of-court and bankruptcy situations.  Some of the key action items we undertake include:

• Assess our clients’ liquidity resources and cash forecasts
• Identify financing and divestiture alternatives
• Determine merits of engaging a turnaround specialist
• Develop a game plan for rapid approach to operational, financing and strategic parties
• As appropriate, assess DIP financing and other bankruptcy, reorganization and asset sale issues

Proven Ability to Preserve Value:
Trinity Capital’s objective is to create solutions for distressed companies that preserve value for stakeholders which often means staying out of bankruptcy.  We accomplish this by (i) developing tailored capital raising or asset sale strategies that leverage the positive aspects of our clients’ business and (ii) selling through our clients’ “down cycles”.  If bankruptcy is unavoidable, we often seek pre-packaged or rapid exit strategies to ensure that value deterioration and professional fees, in chapter, are minimized.

Exceptional Record of Successful Sales:
Trinity Capital has sold several distressed companies at remarkable valuations, both out-of-court and in a §363 sale.  For example, Trinity Capital successfully completed the sale of a 700 unit franchise chain, Schlotzskys Deli, in a §363 sale to the Bobby Cox Companies, Inc.

Burger King Corporation engaged Trinity Capital to advise it on a number of strategic issues including restructuring, work out and reorganization for approximately 275 franchisees representing about 2,500 Burger King restaurants in North America. FRANMAC and YUM! Brands engaged Trinity to provide restructuring services on approximately $1.2 billion of Taco Bell franchisee debt obligations in a watershed program which paved the way for four years of positive same store sales growth. Burger King Corporation engaged Trinity Capital in connection with its workout to restructure AmeriKing, a 365 unit operator headquartered in Chicago, IL.