Jan 4, 2020 | News

The fiduciary and insolvency services firm of KapilaMukamal is pleased to announce that the firm is a recipient of the M&A Advisor’s 11th Annual Turnaround Award in the Sector Award Category – Consumer Discretionary Deal of the Year (Over $25MM to $50MM) in the Chapter 11 Case of Simply Fashion Stores, Ltd.

In April of 2015, Soneet Kapila was appointed as Chief Restructuring Officer and KapilaMukamal served as Restructuring Advisors to the Debtors, Adinath Corp. and Simply Fashion Stores, Ltd. which operated over 240 retail stores in multiple states.  Over the course of many months, Kapila and the KM team provided practical hands-on guidance in the matters of store closings, employee disputes, multi-state tax issues, and other complex negotiations.  Working with other professionals on the bankruptcy team, Kapila helped structure a comprehensive plan of liquidation. Under the direction provided by Kapila as the company’s Chief Restructuring Officer and the KM team, the results of the Simply Fashion Stores, Ltd. bankruptcy case included distributing hundreds of thousands of dollars under the confirmed plan to hundreds of the retailer’s former, mostly urban, employees for accrued ‘paid time off’ which resulted from the combination of the leadership of the company’s management prior to the filing, and the global settlement of a dispute approved by the Bankruptcy Court that involved several creative and unique features and paved the way for confirmation of the liquidating plan.

 “The award winners represent the best of the distressed investing and reorganization industry in 2016 and earned these honors by standing out in a group of very impressive candidates,” said David Fergusson, Co-CEO and President of The M&A Advisor. “In an environment that is increasingly demanding of its professionals we have recognized the leading transactions, firms and individuals that represent the highest levels of performance.”

The nominations, representing over 300 participating companies, were judged by an independent jury of industry experts. Annually, the M&A Advisor announces the winners of its Turnaround Awards in each of the categories of Restructuring of the Year, Transaction of the Year, Refinancing of the Year, Sector Deal of the Year, Firm of the Year, Turnaround Product/Service of the Year and Professional of the Year. The awards will be presented at a Black Tie Gala on Thursday, March 23, 2017 at the Colony Hotel, Palm Beach, FL.

About KapilaMukamal

KapilaMukamal, LLP provides fiduciary and insolvency services including restructuring, forensic & investigative consulting, litigation support services, expert witness testimony, business valuations and matrimonial forensics. The firm has two locations in South Florida in the SunTrust International Center, One SE 3rd Avenue, Suite 2150 in Miami and 1000 South Federal Highway, Suite 200 in Fort Lauderdale. For more information, visit www.KapilaMukamal.com.               

THE M&A ADVISORThe M&A Advisor was founded in 1998 to offer insights and intelligence on M&A activities. Over the past nineteen years we have established the premier global network of M&A, Turnaround and Finance professionals. Today, we have the privilege of presenting, recognizing the achievements of, and facilitating connections between the industry’s top performers throughout the world with a comprehensive range of services. To learn more, visit www.maadvisor.com.

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