Men's Clothing Manufacturer Division: Phoenix Management Services, Phoenix Capital Resources Client Our client was a $70 million manufacturer of tailored men's clothing and pants under the Bill Blass and other private labels for major department stores and specialty shops, headquartered in Philadelphia. Problem This 98-year old Company was slow to migrate production offshore and, as a result, had difficulty being cost competitive. Changes to its licensing agreement with Bill Blass had also reduced margin, and the Company was struggling with the continued consolidation of its retail customer base, its continued focus on reducing costs, and a major loss resulting from the bankruptcy of one its largest customers. The Company’s shareholder had recently pledged $8 million of marketable securiti

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