The CPI Group of Companies (“CPI”) retailed professional portrait photography of young children, individuals and families. CPI had over 1,500 employees in Canada; it was headquartered in St. Louis, Missouri and operated from over 300 Wal-Mart and Sears locations in Canada.
We were appointed as Receiver in Canada to run a sale process for CPI’s Canadian business. At the time of our appointment, the US operations had been discontinued. As Receiver, we worked with management to oversee operations for over a year, during which we addressed complex pension and tax matters and carried out a Court-approved sale process. The sale process resulted in a going-concern sale of the business.