Consumer & Retail | Restructurings

ROPS Completes Pre-Packaged Bankruptcy

  • ROPS Textiles, Inc. is the holding company for Arley Corp., a producer and marketer of home furnishings textiles including curtains, draperies and bedding
  • ROPS Textiles had incurred substantial high-yield, publicly traded indebtedness in connection with a management buyout of Arley Corp.
  • ROPS and Arley retained TM Capital as financial advisor to assist in restructuring their indebtedness to an appropriate level given operating results
  • TM Capital assisted ROPS in negotiating a $78 million prepackaged bankruptcy reorganization with its creditors’ committee which substantially reduced indebtedness and retained management control
  • TM Capital also arranged a new senior credit facility for Arley Corp. in connection with this restructuring