Case Study:
Gabriel Holdings
Successful Reorganization of Packaged Liquor Store Through Chapter 11
Gabriel Holdings is the largest packaged store in the San Antonio area. The Company filed for Chapter 11 Bankruptcy in the Western District of Texas in December 2019. A Harney professional was appointed as Chief Restructuring Officer in March 2020 to get the company through a success reorganization and sale process.
The Solution
Working with Management, Debtor advisors and legal counsel, and creditor representatives, Harney guided the company through the Chapter 11 by overseeing operations, monitoring cash availability and borrowing base issues, and executing the sale process.
Facilitated negotiations between the owners, debtors, and creditor groups.
The Results
The Plan of Reorganization approved by the Court resulted in 100% payoff of the senior secured lender and significant recovery to the unsecured creditors.
Services & Roles
Turnaround and Restructuring
Chief Restructuring Officer
*Some engagements may have been performed by team prior to joining Harney Partners.
