M. Slavin & Sons, Ltd. Announces Bankruptcy Exit

NEW YORK, Dec. 13, 2011 /PRNewswire/ -- On November 30, 2011 the United States Bankruptcy Court for the Southern District of New York entered an order confirming M. Slavin & Sons, Ltd. Plan of Reorganization and the Company closed on its recapitalization and new senior lending agreement with North Mill Capital. The 100 year old seafood distributor filed for bankruptcy protection on February 14, 2011.

"We are pleased the Company was able to successfully turn around its business and confirm a plan within ten months of the filing," said Gary Herwitz, Managing Partner of CoMetrics Partners the turnaround management firm engaged by the Company and retained as financial advisors during the bankruptcy. "The turnaround was complex with respect to closing non-performing business segments and selling certain assets and real estate to effectuate the recapitalization. Ultimately we were able to attract new lenders and obtain the consensus of the various constituents including the existing secured lender, unsecured creditors and labor union to confirm the plan."

"Both CoMetrics and our counsel Jerry Luckman of SilvermanAcampora did a tremendous job getting us to the finish line," said Cindy Slavin.  She continues, "We have a new business model which is leaner, focused and as reported we are once again profitable. We never would have been able to reorganize without the advice and determination of Gary and Jerry.  I also would like to thank the creditors and lenders who worked with us in making the confirmation possible."

About CoMetrics Partners LLC

CoMetrics Partners was founded by Managing Partner Gary Herwitz.  The firm specializes in providing middle market companies with strategic vision and leadership to integrate operations, technology and finance. The firm's services include consulting and corporate finance, profit improvement and restructuring services as well as a proprietary supply chain management solution for middle market consumer product importers.

The CoMetrics Restructuring Group is led by partners who collectively have 50 years of hands-on experience as turnaround advisors, crisis managers and interim line managers. Their experience emphasizes profitability improvement through overhead reduction, supply chain optimization, divisional product line and customer profitability along with working capital efficiency. CoMetrics has applied restructuring and turnaround skills to deliver dramatic improvements in clients cash flow, profitability and returns on capital employed in the manufacturing, wholesale, retail, apparel, consumer products and service industries.

www.CoMetricspartners.com

About SilvermanAcampora LLP

SilvermanAcampora is a full service commercial law firm dedicated to providing its individual, corporate, and institutional clients with the highest quality legal services necessary to protect and grow their businesses. We measure our success by how our clients achieve their goals.

The Corporate Restructuring Group finds solutions for clients in matters ranging from the simplest business interruption issues to complex business and operational reorganizations without resort to the bankruptcy process. The Bankruptcy and Creditors' Rights Group brings its considerable expertise to our representation of debtors, secured and unsecured creditors, creditors' committees, equity holders, examiners, and bankruptcy trustees.

www.SilvermanAcampora.com

CONTACT: Mr. Gary Herwitz of CoMetrics Partners, +1-212-381-0871, [email protected]

SOURCE CoMetrics Partners LLC