multi-channel Internet retailer and distributor of optical equipment

$105M Revenue

Company Overview

The Company is a leading online retailer of a wide selection of sports optics, tactical and military gear, hunting gear, and professional grade eyewear.

Company offers hundreds of thousands of products from more than 800 top brands in hundreds of specialty categories including outdoor sporting goods, hunting and tactical apparel and shooting accessories.

Engagement Overview

After failure to achieve forecast results, the Company violated a loan covenant with its senior lender.  Additional softness in sales in combination with logistical challenges with a third-party fulfillment operation resulted in additional revenue declines.

As a result, the Company engaged FDP to:

–Prepare a 13-week cash flow forecast,

–Review and assess management’s financial forecast, and

–Prepare a Summary Action Plan to address operating losses and liquidity challenges.

FDP analyzed the overall overhead structure and current balance sheet situation and developed a plan that would:

–Reduce inventory levels by $10 million, creating needed liquidity,

–Reduce overhead expenses by nearly $3 million, principally through payroll savings, advertising savings, and freight savings.

Based on the aggressive actions take, the Company returned to profitability.

Results

FDP generated needed liquidity through an aggressive inventory reduction strategy.

Overhead expense structure was reduced significant to better align with current and future revenue volumes.

Company successfully returned to profitability after incurring significant operating losses.

FDP News

Jun - 22

Fort Dearborn advises HF Foods Group, Inc. - Sealand Food, Inc.

Fort Dearborn Partners (FDP) is pleased to announce we served as sole financial advisor to HF Foods Group, Inc. (NASDAQ:HFFG) in its transaction with Sealand Food, Inc.

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Apr - 22

Fort Dearborn advises HF Foods Group, Inc. - Great Wall Seafood

Fort Dearborn Partners (FDP) is pleased to announce we served as sole financial advisor to HF Foods Group, Inc. (NASDAQ:HFFG) in its transaction with Great Wall Seafood.

Read More

Dec - 21

Fort Dearborn Partners advises Foodservice Provider

Fort Dearborn Partners, Inc. served as the exclusive financial advisor to an Illinois-based foodservice provider and refinanced $17,500,000 of debt.

Read More