Restructuring Advisors

Ducane Gas Grills

Company: Ducane Gas Grills
Industry: Consumer Good – Outdoor Cooking
Revenue: $65 million
Region: Southeast
Services: Orderly Liquidation Recovery Analysis

The Challenge:

Ducane Gas Grills, a manufacturer of high-end outdoor equipment, was on the verge of filing for bankruptcy protection. The company needed assistance in establishing an orderly liquidation value in order to better understand future options.

Our Actions:

Jim Burritt, managing partner of Restructuring Advisors completed an assessment and orderly liquidation value analysis that provided the Board of Directors, officers and secured creditors with a clear set of expectations on the anticipated gross and net dollars the company would realize from the s ale of the business. The valuation covered all elements of company assets from intellectual property, including trade names, patents and websites through their traditional assets of personal property, inventory and receivables. As time was of the essence, Burritt completed the analysis in 10 working days.

The Results:

While completing the orderly liquidation analysis, Burritt identified a sales strategy and provided a list of the five top likely prospects to purchase the Ducane as sets. Ducane successfully implemented the strategy developed and after filing for bankruptcy protection Ducane was s old to a strategic buyer from the list Burritt prepared. The business line was purchased by Stephen-Weber Products, the manufacturer of the world-renowned Weber Grills.