For-profit Education: 5 Steps to Improvement

For-profits educational institutions are under increased scrutiny as stiff regulation, declining enrollments, limited capital and poor post-graduation performance have overshadowed the benefits offered by the for-profit segment for America’s nontraditional students. School operators of today’s for-profit colleges are faced with a depressing fact: enrollment peaked in 2010, and isn’t expected to rebound any time soon. Most postsecondary colleges in the education segment rely on government funding and revenue from student tuition, whereas nontraditional pupils rely heavily on Pell Grants and Title IV financial aid to support their postsecondary education. However, against the backdrop…READ MORE >

Judge Sets August Auction for Abengoa US Ethanol Plants

By Jacqueline Palank Bankruptcy & Debt - Dow Jones A bankruptcy judge cleared the way for the speedy sale of Spanish renewable energy firm Abengoa SA's U.S. ethanol plants, which have already garnered $350 million worth of bids. Judge Kathy A. Surratt-States of the U.S. Bankruptcy Court in St. Louis Wednesday authorized Abengoa Bioenergy US Holding LLC to hold an Aug. 22 auction for its Midwestern ethanol plants, which company advisers expect to be competitive. Abengoa investment banker Christopher Wu, a partner with Carl Marks Advisors, told The Wall Street Journal that "a…READ MORE >

THE ROAD TO RESTRUCTURING

By Kathleen Furore On June 10, 2015, natural and organic grocer Whole Foods Market introduced the official name for the newest member of its family. The name, 365 by Whole Foods Market, "celebrates our belief that fresh healthy foods can be readily available to more people in an affordable way every day…365 days a year," Jeff Turnas, president of the new unit, wrote that day on Whole Story, the retailer's blog. "It also tips our hat to our popular 365 Everyday Value brand, which our shoppers seek out for quality, transparency and great value—the…READ MORE >

Need to Meet with Joseph D’Angelo

    May 31, 2016, By Eamon Murphy Joseph D’Angelo is a busy man these days. A partner at Carl Marks Advisors specializing in turnarounds and restructuring, with expertise in the energy sector, D’Angelo says oil prices have given him lots of work of late. “In both the services side and now more on the [exploration and production] side, we got started two years ago working on companies that overexpanded,” he said. “With the lower price of oil, it’s pretty much made every company look overleveraged.” Compounding the problem is pressure on the banks to reduce their exposure to…READ MORE >

Something wicked this way comes for certain PE-backeds

    By Lisa Allen When TowerBrook Capital Partners LP acquired denim designer True Religion Apparel Inc.in July 2013 for $824 million, the New York private equity firm was able to get what many private equity firms got after one of the worst financial crises in U.S. history: covenant-lite financing. TowerBrook, which specializes in retail buyouts, bought True Religion even though it had suffered a profit decline and faced intense competition in the denim space. Intent on "brand building and international opportunities," as it called it, TowerBrook brought in David Conn, former president of licensed brands at VF…READ MORE >