Winter Harbor LLC
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Edwards Brothers Malloy

 

Established in 1893, Edwards Brothers Malloy was the fifth largest book and journal manufacturer in the U.S. with over $100 million in annual sales.  The Company ran one of the largest digital print operations in North America with eight locations in the U.S. and another in the U.K.  Edwards Brothers Malloy offered fulfillment services in the U.S., as well as global printing and distribution services.

Situation

The family-run business was financially challenged with mounting pension obligations and ongoing industry shifts in book manufacturing, from declining consumer demand and popularity of electronic access to books and publications.

Scope of Work

Winter Harbor performed two phases of work to support the development of Edwards Brothers Malloy’s restructuring needs, weighing liquidation, sale, and bankruptcy options.

  • Developed liquidating analysis, detailing restructuring options including wind down, bankruptcy filing, and sale.

  • Validated current and future cash flow projections.

  • Maintained a 13-week cash flow, updated weekly for management and stakeholders.

  • Reviewed daily funding requirements needed to support cash flow projections.

  • Reviewed restructuring initiatives and alternatives.

Engagement Outcome

After careful consideration, Edwards Brothers Malloy pursued winding down operations and completed all outstanding jobs. They underwent an out-of-court asset sale to a strategic buyer, closing doors in 2018.