April Cornell

Restructuring Advisory/Chief Restructuring Officer Services

April Cornell is a vertically integrated home goods and apparel business that has been operating in the U.S. and Canada since the 1970s. At its peak, it operated over 100 retail stores in North America, as well as an extensive licensing and wholesale business.

The retail business faltered in 2005, and Consensus’s Christopher Ellis was engaged by the founders and owners of the Company to represent them and protect their interests during the winding down of the U.S. retail side of the business. The process involved extensive negotiations with the Company’s senior commercial lenders and other creditors and the filing of a petition for relief under Chapter 11 of the U.S. Bankruptcy Code, while a reorganization of the licensing, manufacturing and real estate parts of the business took place outside of court. Ultimately Mr Ellis negotiated a buyout of the bank debt on behalf of the founders and organized a successful liquidation of the U.S.-based retail company, resulting in a significant recovery for the founders and their partners,and survival of the April Cornell real estate, wholesale and licensing businesses.