Associated Wholesalers Inc.

Summary

Chief Restructuring Officer

Robesonia, PA

Founded in 1962 and headquartered in Robesonia, Pennsylvania, Associated Wholesalers, Inc. (AWI) was a cooperative wholesale grocery distributor that provided a wide range of products and services to independent grocery stores.

Carl Marks Advisors (CMA) was engaged as Chief Restructuring Officer to provide financial advisory and investment banking services to AWI. At the time of engagement, the company was in breach of its covenants and faced near-zero liquidity.

CMA managed day-to-day executive and restructuring responsibilities, including liquidity and inventory management, vendor negotiations, purchasing strategy, and cost reductions. CMA also guided the company through a bankruptcy filing and facilitated the sale of substantially all assets to C&S Wholesale via a Section 363 process.

Key Challenges

Industry Challenges

Bankruptcy Support

§363 Sale

Engagement Highlights

Retained to provide financial advisory and investment banking services and assist the Company in the exploration of strategic alternatives, including a potential asset sale.
Responsible for managing all day-to-day executive and restructuring responsibilities of the Company including;
- Liquidity management
- Inventory management
- Vendor negotiations
- Purchasing strategy
- Cost reductions
Advised Company through bankruptcy filing and sale of substantially all its assets to C&S Wholesale through Section 363 of the Bankruptcy code.

Associated Wholesalers Inc.

Summary

Chief Restructuring Officer

Key Challenges

Engagement Highlights

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