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Roman, Inc.: From Liquidation Planning to Turnaround of the Year

David Bagley
The Journal of Private Equity Summer 2009, 12 (3) 44-49; DOI: https://doi.org/10.3905/JPE.2009.12.3.044
David Bagley
is managing director of MorrisAnderson, a Certified Turnaround Professional (CTP) and a member of Turnaround Management Association (TMA) in Chicago, IL.
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  • For correspondence: dbagley@morrisanderson.com
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Abstract

Roman, Inc., a mid-sized wholesale distributor of giftware, seasonal dècor, and collectibles located in Bloomingdale, Illinois, was in the process of closing down when it engaged MorrisAnderson to maximize value from the liquidation. Dave Bagley, managing director with MorrisAnderson, assisted CEO Dan Loughman and COO Pat Pipp in developing a business plan that rejuvenated the company. Roman was transformed from annual losses of $3 million to profits of $2 million. In 2008 Roman was awarded the Turnaround Management Association (TMA) Chicago/Midwest Chapter’s Medium Turnaround of the Year award, and the TMA International Mid-Sized Turnaround of the Year, Honorable Mention.

TOPICS: Private equity, financial crises and financial market history, technical analysis, manager selection

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The Journal of Private Equity
Vol. 12, Issue 3
Summer 2009
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Roman, Inc.: From Liquidation Planning to Turnaround of the Year
David Bagley
The Journal of Private Equity May 2009, 12 (3) 44-49; DOI: 10.3905/JPE.2009.12.3.044

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Roman, Inc.: From Liquidation Planning to Turnaround of the Year
David Bagley
The Journal of Private Equity May 2009, 12 (3) 44-49; DOI: 10.3905/JPE.2009.12.3.044
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