17 Nov SPEARHEADS DEBT RESTRUCTURING FOR CHESHIRE, CONNECTICUT FIRM
November 17, 2010
WORTH AVENUE CAPITAL SPEARHEADS DEBT RESTRUCTURING FOR CHESHIRE, CONNECTICUT FIRM
Guilford CT Worth Avenue Capital LLC, a full service finance and consulting firm in Guilford, has just completed a debt restructure for a Cheshire-based manufacturer of medical supplies.
Michael M. Ciaburri, founder and President of Worth Avenue, was the lead negotiator on behalf of his client. A veteran banker and former President and CEO of a New Haven commercial bank, Ciaburri is a specialist in debt restructuring and financing for companies with sales between $1 million and $30 million.
Small to mid-size businesses is Worth Avenue’s niche with its proven ability to source debt capital while providing bank workout services for those same firms. The Cheshire company was able to benefit from Ciaburri’s expertise as a financial negotiator in its successful restructure. A large money center bank was involved, along with one of the firm’s major suppliers – a nationally prominent manufacturing company owned by a multi-billion dollar private equity firm.
“Bringing the parties together in a fast, efficient, equitable fashion is our specialty,” Ciaburri said. “While other financial/consulting sources are still shuffling paper, we’re sitting at the table hammering out solutions.
“We were able to negotiate a substantial discount with both creditors, resulting in a $430,000 savings in principal debt.” Ciaburri concluded: “Bank workouts are a sensible way for businesses to negotiate today, especially in tough recessionary times.
“With traditional lending as tight as it is, Worth Avenue Capital accesses a wide range of financial resources. When you couple that with our negotiating talent and experience, it’s usually a win/win situation for our clients.
“Currently we’re completing a number of similar bank workouts that give companies breathing room, let them regroup to go on with what they do best – productivity … keeping our economy on its path to recovery.”
For more information, contact Michael Ciaburri at 171 Old Sachems Head Road, Guilford, CT 06437. Direct line: 203-605-4082. Email: Michael Ciaburri worthavenuecapital@gmail.com