Cord Crafts

Division: Phoenix Capital Resources, Phoenix Management Services


Cord Crafts was a $50 million manufacturer of high-end silk flower arrangements based in Wharton, NJ.


Cord Crafts was challenged by several factors. The Company had recently written off several large receivables from some major retailers that had filed for Chapter 11 protection; a catastrophic computer crash permanently destroyed all of the Company’s data; the Company’s recent acquisition of a West Coast-based competitor had not yielded the efficiencies that had been expected.


Phoenix Management Services advised the Company as it consolidated the recently completed West Coast acquisition and implemented a broad array of financial and IT controls. Phoenix also implemented a re-focused cash management strategy and assisted the CEO with the recruitment of a new CFO. The Company rapidly returned to profitability and Phoenix assisted Cord Crafts with refinancing its credit facility with a more supportive lender.