Peoples Education Holdings (Peoples Education) is a publisher and marketer of educational materials available in printed and digital formats for the kindergarten through 12th grade school market. It offers supplementary educational materials for test preparation, assessment, instruction and general readings across various content areas. Their materials are available to schools through several medias such as print, audio, software and video. Peoples Education now operates under the business entitiy, Mastery Education.
Winter Harbor served as Financial Advisor and Chief Restructuring Officer to Peoples Education. We:
- Assessed the Company’s recent performance and projected financial results, presenting our findings to secured lender.
- Projected and managed weekly cash flow for the Company while operating under a forbearance agreement and significant amount of past-due accounts payable owed to key vendors.
- Created the information memorandum to seek new or additional financing and distributed to multiple lenders.
- Negotiated modification to the forbearance agreement with the existing lender.
- Assisted with the Company’s ultimately successful financing with a new lender.
With our assistance, Peoples Education was able to re-finance its debt with under a new banking relationship. This lender assumed 100-percent of the Company's existing debt at a discount.