Z Gallerie

ABOUT THE CASE

Z Gallerie

SECTOR: Consumer Discretionary - Retail
CONFIRMED DATE: March 2019
ROLE: Financial Advisor to the Official Committee of Unsecured Creditors
Z Gallerie was a California-based home furnishing and décor retailer with 76 stores nationwide that filed for Chapter 11 in March 2019. Province served as financial advisor to the Official Committee of Unsecured Creditors. As such, Province assessed the viability of the proposed go-forward footprint of stores with 4-wall analysis, augmented the sales process with 36 additional buyers, monitored the winddown sales at rejected leases, and explored the recharacterization of certain unsecured debt as equity. Other duties included monitoring the sales process, exploring other potential avenues of additional value such as litigation, and tracking cash flow performance versus budget.
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