Case | HBS Case Collection | 1999 (Revised from original 1998 version)

Flagstar Companies, Inc.

by Stuart C. Gilson and Jeremy Cott
 

Abstract

A large restaurant chain undergoes a leveraged buyout and subsequent recapitalization. Financial and operating problems at the company force it to consider various restructuring options, including a "prepackaged" Chapter 11 exchange offer to its public bondholders. A rewritten version of two earlier cases.

Keywords: Leveraged Buyouts; Restructuring; Capital; Insolvency and Bankruptcy; Debt Securities; Financial Services Industry; United States;

Language: English Format: Print 35 pages Purchase

Citation:

Gilson, Stuart C., and Jeremy Cott. "Flagstar Companies, Inc." Harvard Business School Case 299-038, May 1999. (Revised from original December 1998 version.)

Related Work

  1. Case | HBS Case Collection | 2007 (Revised from original 2005 version)

    Flagstar Companies, Inc. (Abridged)

    Stuart C. Gilson

    A large restaurant chain undergoes a leveraged buyout and subsequent recapitalization. Financial and operating problems at the company force it to consider various restructuring options, including a prepackaged Chapter 11 exchange offer to its public bondholders. Two investment bankers hired by senior and junior creditors present competing company valuations to the bankruptcy court that differ by $700 million.

    Keywords: Leveraged Buyouts; Restructuring; Capital; Insolvency and Bankruptcy; Debt Securities; Competition; Valuation; Financial Services Industry; United States;

    Citation:

    Gilson, Stuart C. "Flagstar Companies, Inc. (Abridged)." Harvard Business School Case 206-076, April 2007. (Revised from original December 2005 version.)
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About the Author

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Stuart C. Gilson
Steven R. Fenster Professor of Business Administration
Finance

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