Industry

Retail Trade | Sporting Goods

DSI'S Role

Chief Restructuring Officer

Services Provided

  • Business Plan Analysis
  • Crisis & Interim Management
  • Debtor Advisory
  • Sale of Assets

G.I. JOE'S HOLDING CORPORATION AND G.I. JOE'S INC. D/B/A JOE'S SPORTS, OUTDOOR & MORE

Case Highlights

  • Maximize liquidation of assets
  • Controlled wind down of operations
  • CRO of Chapter 11 Bankruptcy in District of Delaware
  • Conducted auction to maximize guaranteed minimum return to the estate
  • Negotiated agency agreements with a liquidator to run going-out-of-business sales

Case Narrative

DSI was initially retained as financial advisor to G.I. Joes Inc. d/b/a Joe’s Sports, Outdoor & More, a Pacific Northwest retailer with over 30 locations.

After multiple attempts to refinance and restructure the company, the decision was made to maximize asset values via a wind down of the operations in a Chapter 11 proceeding. DSI was appointed as Chief Restructuring Officer to oversee the wind down process.  In less than a 45-day period, all retail locations liquidated their inventory and were closed. Significant effort was given to coordinating issues relating to employees, customers and creditors.