HQ Global Workplaces is the leading provider of executive office space and associated services and was the largest franchisor of executive office suites in the world. NCA professionals represented the senior creditors through a protracted bankruptcy proceeding that resulted in a successful reorganization negotiated by NCA in which the pre-petition senior lenders equitized their debt to take control of the company. Specifically, NCA assessed HQ’s operating opportunities, including branch rationalizations and lease restructuring opportunities and worked in tandem with management to redesign the organizational structure into an entrepreneurial organization focused on P&L responsibility at the branch level. NCA drove management to (i) sell $20 million of non-core assets, (ii) reject 70+ unprofitable leases, (iii) restructure over 180 leases on substantially more favorable terms, all as the company focused on rationalizing its operations. Post-bankruptcy, an NCA professional served as Executive Chairman of the HQ Board and provided oversight of the continuing operating restructuring that resulted in dramatic EBITDA improvements (i.e., negative $25 million to positive $35 million run-rate). NCA also developed and implemented a restructuring of HQ’s broad franchise network in order to align the interests of HQ and its franchisees. In addition, Navigant Capital Advisor’s, LLC served as HQ’s exclusive financial advisor and negotiated the sale of HQ to Regus PLC in a transaction that resulted in full recoveries to the holders of pre-bankruptcy secured claims and significant recoveries for the holders of unsecured bankruptcy claims.

NCA was retained by GMAC-RFC as financial and restructuring advisor in connection with the bankruptcy of Neumann Homes, Inc., a major regional builder based in Chicago, IL. An NCA professional is currently serving as Chairman of the Neumann Homes, Inc. Creditors Committee.

Wilton Partners Tollway, LLC is an operator of eight large “oasis” service areas along the Illinois Tollway. NCA served as financial advisor to Wilton in connection with the successful restructuring of its senior secured credit facility with iStar Financial.