The Global M&A Network honored winners of the prestigious 11th Annual Turnaround Atlas Awards in New York City. The independently governed awards, recognized excellence in categories of transactions, outstanding firms, top U.S.A professionals and legendary leaders

The DAK Group was honored with the Retail Restructuring of the Year Award for the Peekay Boutiques, Inc. restructuring and takeover by Senior Secured Lenders. Sheon Karol, Managing Director, with Ari Fuchs, Director, led The DAK Group team that provided investment banking and financial advisory services to the Unsecured Creditor Committee.

“Few retailers emerge from bankruptcy. Therefore, it is noteworthy that DAK has represented Unsecured Creditor Committees in two recent retail Chapter 11 proceedings in which the debtors – Peekay and Icon Eyewear – successfully emerging from bankruptcy.  In both cases we combined our middle market investment banking reach with creative financial advisory services to benefit both the unsecured creditors and the other stakeholders”, stated Sheon Karol.

This is the second award DAK has received for its representation of the Peekay Unsecured Creditors Committee.  Earlier this year, M&A Advisor recognized the restructuring and sale of Peekay as the Chapter 11 Reorganization of the Year ($25-50MM).

The awards ceremony was conducted at the 11th Annual Intelligence Forum – Restructuring & Distressed Investing at which Sheon Karol also participated in an industry roundtable and shared insights on “Restructurings & Distressed Markets: What’s New?” He spoke about recent activity and trends including developments in cross-border bankruptcy filings in a growing economy and laxed credit markets.