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Kekst CNC handles Franchise Group as the Delaware (Ohio) franchising platform files for Chapter 11 in a bid to reduce debt and enhance liquidity.
The company’s portfolio includes Vitamin Shoppe (700+ stores), American Freight (365 furniture/appliances/mattresses outlets), Buddy’s Home Furnishings (320 rent-to-own outlets), Pet Supplies Plus (620 units) and Wag N Wash (15 pet grooming sites).
The reorganization plan calls for the wind down of American Freight, which has struggled due to the sustained inflation and macroeconomic challenges facing the durable goods sector.
Franchise Group CEO Andrew Laurence said his company’s remaining brands have demonstrated value propositions and provide great products and services to customers.
Kekst CNC has Jeremy Fielding, Sherri Toub and Ross Lovern representing Franchise Group.
Publicis Groupe owns Kekst CNC.
Matt Reid, who was managing director at H/Advisors Abernathy and head of its Los Angeles office, has joined Burson Buchanan as US CEO.
Gasthalter & Co. handles the push by Barington Capital Group and Thor Equities to pressure Macy’s to maximize the value of its real estate holdings and slash spending.
Joele Frank represents AEA Investors as the private equity fund acquires digital shop Huge from Interpublic.
Malika Varsani has joined Capital Market Communications Ltd. (Carmarco)
Prosek Partners handles HPS Investment Partners as the global credit investment manager is acquired by BlackRock for $12B.
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