LOS ANGELES - (Business Wire) Scouler & Company, the Los Angeles-based financial turnaround and restructuring firm, was appointed Chief Restructuring Officer (CRO) by the Dan River, Inc. Board of Directors as part of the home textile distribution company
’s Chapter 11 bankruptcy proceedings. John Hedge, a principal of the firm, will serve as CRO. The CRO is responsible for developing and implementing a business plan to maximize the return to all stakeholders, consulting on any potential divestitures, providing oversight for operations, monitoring financial performance and interacting with Dan River lenders and other creditors throughout the recovery period.
In announcing the appointment, Managing Principal Dan Scouler noted “Scouler & Company was selected based on multiple factors including the credentials of our personnel, demonstrably creative solutions, and perhaps most importantly, prior niche experience with distribution companies and big box retailers.” Scouler & Company consultants have performed CRO duties for companies in a diverse range of industries such as distribution, retailing, home improvement, mortgage origination and security services.
Since its formation less than a year ago, Scouler & Company has grown four-fold to encompass more than a dozen professionals with more than twenty years of experience each in the financial services and restructuring industries. Scouler attributes his firm’s fast-track growth to an increase in troubled companies resulting from the fallout of globalization, highly leveraged balance sheets and general economic conditions including a pending recession that he predicts will be deeper and longer than anticipated.
Scouler & Company is a restructuring, crisis management and transaction services firm serving companies, investors and lenders nationally. The Scouler & Company services portfolio encompasses financial advisory (restructuring, business and operating plans), business stabilization (facility consolidation and closure, asset conversion, working capital and liquidity improvement), technology advisory (enterprise systems, risk assessments, business analytics and system recovery), interim executive management (at the CEO, CFO, COO, CIO and CTO level) and transaction services (refinancing and divestiture strategies, due diligence, securing equity and debt participants). For additional information, visit the Scouler & Company web site at www.scouler.com or call 310.229.5900.
Scouler & Company
Gillian Scouler, 212.362.1140
