Adrian Frankum

Adrian’s professional experience includes:

• $100 Million Diamond Wholesaler: Financial advisor to the company in preparing it for bankruptcy.
• The Sports Authority: Financial advisor to this $2.6 billion company, in which role he was involved in all aspects of the engagement, including cash and working capital management, asset sales and recoveries, cost streamlining, bankruptcy proceedings, store closures, inventory liquidation, adequate assurance analysis, development and implementation of a wind-down plan, and negotiations with various parties-in-interest.
• RadioShack Corporation: Member of the interim management team. Successfully led this 4,000+ store company through its restructuring process, managed bankruptcy planning and execution activities, negotiated and implemented a transition services agreement with the buyer, negotiated a final settlement to both the asset purchase agreement and the TSA, prepared the nonacquired portion of the company for wind-down, transitioned it to the trustee, and subsequently served as a financial advisor to the trustee.
• Puerto Rico Electric Power Authority: Financial advisor to PREPA, a $5 billion municipal corporation, and its board of directors. Directly led teams that, among other things, were responsible for stabilizing the supply base, developing reliable cash flow projections, consolidating the company’s cash management system, developing working capital improvement strategies, and analyzing alternative rate and restructuring scenarios.
• $600 Million Government Contractor: Chief restructuring officer responsible for all restructuring-related matters. Was instrumental in stabilizing the lender base and achieving an out-of-court restructuring solution for the company.
• Revstone Industries: Financial advisor to the Unsecured Creditors’ Committee of this automotive parts manufacturer.
• Sponsor-Owned Sports Information Publisher: Advised the company and its sponsor in preparing for negotiations with secured lenders.
• Vertis Communications, Inc.: Interim chief financial officer of the $300 million direct mail division and subsequently senior vice president of finance of the entire $1.2 billion printing company. In these roles, Adrian led and revamped the business planning process, drove a capital budgeting process overhaul, and implemented cost-cutting actions and various performance improvement activities. Prior to these roles, he served as the company’s financial advisor in its prearranged bankruptcy, in which he was responsible for all aspects of the bankruptcy process.
• Jackson Hewitt Tax Service, Inc.: Financial advisor to the secured lenders of this retail service company with more than 250 storefronts. Analyzed the company’s business plan, informed lenders on various regulatory and franchise risks, developed recovery analyses, negotiated the plan of reorganization and lender recoveries, and developed an internal (to the lending group) trading mechanism to allow lenders to trade tranches of recovery.
• Fast Casual Restaurant Group: Advised management and the sponsor with respect to the carve-out of this restaurant group. Work entailed analysis of the transition support agreement; development of associated controls, cash flow projections, and cash management procedures; and assistance with financing covenants and the development of a plan to stand up the enterprise as a separate entity.
• Visteon Corporation: Financial advisor to the Unsecured Creditors’ Committee of this tier-one automotive parts supplier, resulting in recoveries to unsecured creditors of approximately 50%.
• Delphi Corporation: Financial advisor to this $23 billion tier-one automotive parts supplier in its Chapter 11 proceedings, during which he advised management on the restructuring of the company, including prebankruptcy planning, business plan development and analysis, liquidity management, lender negotiations, cash flow projections, plan of reorganization formulation, due diligence support, financial reporting, and claims-related matters.
• Select Other Engagements: UPC Polska (company advisor), Pegasus Communications (company advisor), Global Crossing (advisor to the secured lenders), RSL Communications (Joint Provisional Liquidators), Clark Material Handling (company advisor), and Planet Hollywood (company advisor).