Fetco Home Decor, Inc.

Client Profile
Fetco Home Decor, Inc. (‘Fetco’ or the ‘Company’) is a leading designer and wholesaler of upscale picture frames, wall decor and home accent pieces. The Company, headquartered in Randolph, Massachusetts, offers a wide variety of quality branded frames made primarily from wood, metal and glass.
Situation
Fetco had been adversely impacted over the last few years by the poor upscale retail environment, as well as decreased margins due to the overall shift of retail sales from small independent gift and photo stores to larger chain department stores, mass merchandisers and specialty stores. Further, Fetco had only recently implemented an operational turnaround to combat inefficiencies in sales and distribution.
Solution
Near-term liquidity issues required an immediate infusion of capital through either a sale or recapitalization of the Company. SSG went to market to attract a broad array of lenders investors and purchasers. Ultimately, SSG delivered a recapitalization that provided liquidity to the existing senior lender, provided incremental capital into the business and allowed the existing owners of the company to maintain a controlling interest. The transaction encompassed bringing in a new lender and concurrently restructuring some of Fetco’s existing obligations.