April 1, 2009
COLIBRI RISES FROM THE ASHES
BOSTON, MA – Consensus is pleased to announce that, effective April 1, 2009, Alliance Time has taken over and resumed operations of The Colibri Group. The Colibri Group was placed in Receivership on January 15th. Consensus was engaged by the Receiver, at the suggestion of the Secured Lenders, to assist with the management of the business and its assets for the benefit of its creditors.
Alliance Time, a New York-based distributor of brand name and designer jewelry, watches and accessories, successfully acquired the Colibri and Seth Thomas businesses from the Receiver.
The assets of The Colibri Group were auctioned off on March 19th. Assets with a cost value of more than $25 million—including clocks, watches, lighters and jewelry – and well known brands such as Colibri, Seth Thomas, Krementz and Dolan Bullock were sold. The auction was run by Consensus on behalf of the Receiver.
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About Consensus: Consensus Advisors is a boutique investment banking and financial advisory firm based in Boston. We focus on complex transactions for companies undergoing significant transformation of their business models. Our professionals have decades of relevant industry experience representing and advising companies, entrepreneurs, investors, creditors and lenders in financial and brand equity transactions. We have extensive relationships with multiple resources necessary to help companies at every stage of development including commercial banks, private equity, venture capital and hedge funds, factors, investors in distressed assets, and real property and equipment lessors. Consensus approaches each engagement with discipline, diligence and confidentiality. All of our senior professionals have extensive advisory backgrounds, as well as years of experience as senior executives or principals of one or more operating companies.
Capital raising activities are undertaken through Consensus Securities LLC, a member of the FINRA and the SIPC.