SECTOR: Consumer Discretionary - Retail
CONFIRMED DATE: November 2019
ROLE: Financial Advisor to the Official Committee of Unsecured Creditors
Destination Maternity is the largest omni-channel maternity apparel retailer, having operated over 950 stand-alone stores and leased departments. Province was retained as financial advisor to the Official Committee of Unsecured Creditors to enhance the sale process, assess financing fees, assess the payment of stub rent and 503(b)(9) claims, assess KERP/KEIP plans, assess claims, and assess timing regarding a sales process and auction. Province also performed traditional financial advisory services such as 4-wall analyses with the goal of maximizing unsecured creditors' recovery.