Old Time Pottery, Inc.: Unsecured Creditors' Committee Representation
H3GM represented the unsecured creditors' committee in the chapter 11 bankruptcy of this regional discount home goods retailer that owned and operated 38 stores in twelve states. With the assistance of H3GM, the committee worked with the company in improving operations, including favorable lease modifications and orderly closing of non-performing stores, which resulted in the company meeting or exceeding financial projections and facilitated the company’s efforts to obtain exit financing. A consensual Chapter 11 plan of reorganization, negotiated by H3GM on behalf of the committee, provided for a 100% distribution to unsecured creditors. In less than fifteen months from the company’s bankruptcy filing, unsecured creditors were paid in full.
