Valuation Services

In connection with the bankruptcy filing and pre-arranged reorganization of Ultra Stores, Inc., a 180 location retail jewelry store chain headquartered in Chicago, we performed an enterprise and equity valuation in support of the disclosure statement associated with the joint plan of reorganization. As part of this valuation, we valued multiple classes of equity, including majority holdings, minority holdings and management restricted shares. We incorporated traditional valuations techniques, including a comparable company analysis, a discounted cash flow analysis and a comparable transactions analysis (which included a review of recent transactions completed at liquidation levels). Our valuation, coupled with a liquidation analysis we separately prepared, served to support the Company’s conclusion that the plan met the so-called “best interest” standards required by Section 1129 of the U.S. Bankruptcy Code.