Travel Traders (the “Company”) is an operator of retail stores within hotels, hospitality venues, and select airport locations. COVID-19 sharply reduced vacation and business travel, foot traffic and hotel occupancy, resulting in a severe revenue decline.
The Company defaulted under its lending agreement and sought market feedback to assess strategic and restructuring options.
The resulting process informed a restructuring of the Company’s existing credit facility, stabilizing operations during a prolonged industry downturn.
Note: This transaction was completed by Managing Director at prior firm.
