SWALLEN’S

Case Highlights

• Managed negotiations with bank and floor planning secured creditors
• Supervised disposition of inventory

Case Narrative

Swallen’s operated six discount general merchandise stores in the Cincinnati, Ohio area with annual sales in excess of $120 million.  Subsequent to filing Chapter 11, Swallen’s engaged DSI to provide financial consulting advice.  Shortly thereafter, when the principals of the business were asked to resign, DSI began to serve as president of the debtor-in-possession.  DSI evaluated the feasibility of the business and recommended an orderly liquidation of the company’s assets.  DSI oversaw the going-out-of-business sales, which generated over $10 million in proceeds.  In addition, DSI managed the wind down of all the operations, the sale of the real property, employee benefit programs, claims objections and preferences litigation.