Marchese brings over 25 years of bankruptcy advisory experience to footwear brand's Chapter 11 proceedings
CRANFORD, N.J., June 16, 2023 /PRNewswire-PRWeb/ -- PKF Clear Thinking, the award-winning business advisory firm and subsidiary of PKF O'Connor Davies, one of the nation's largest accounting, tax and advisory practices, today announced that Joseph Marchese has been appointed Chief Restructuring Officer of The Rockport Company, LLC, as the global footwear brand begins voluntary proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware. Marchese, a Partner of PKF Clear Thinking, brings over 25 years of consulting and financial advisory experience to the engagement.
"As Rockport's Chapter 11 proceedings get underway, our team's immediate priority is to assess the present situation and develop a process to maximize value recoveries for all stakeholders," Marchese said. "Our proven track record of supporting companies through these types of proceedings will be invaluable as we work with diligence, thoroughness and transparency to achieve the best outcome."
With the support of the PKF Clear Thinking team, led by Michael Wesley, a Partner of PKF Clear Thinking, Rockport anticipates operating "business as usual" during the Chapter 11 process, and customers should see no disruption in service or product quality. Subject to court approval, Rockport will operate utilizing debtor-in-possession ("DIP") financing, which will provide Rockport with sufficient liquidity to continue its operations during the Chapter 11 case and related sale process.
Many of Rockport's employees are expected to continue with the company and assist in operations during the Chapter 11 proceedings. Marchese will also draw from his nearly three decades of expertise in the areas of accounting, financial operations, business planning, cash management and financial reporting.
Through Marchese's involvement, PKF Clear Thinking continues to provide the consistent, senior-level representation that is a core component of all financial restructuring and bankruptcy advisory engagements. Coupled with PKF Clear Thinking's individualized approach, the organization's customized, solutions-based service and greater operational efficiency deliver ongoing value to all parties involved.
About PKF Clear Thinking, LLC
PKF Clear Thinking, LLC, a subsidiary of PKF O'Connor Davies, offers advisory services that help companies succeed, at any stage of their life cycle, with clear direction and practical, actionable solutions. The Firm engages with healthy companies to create value and works with troubled companies to preserve value. Our track record and years of experience working on hundreds of successful engagements has propelled us to become a trusted and respected advisor. For more information, visit https://www.pkfct.com/.
About PKF O'Connor Davies
PKF O'Connor Davies is a top-tier accounting, tax and advisory practice with a long history of serving domestic and international clients. "Know Greater Value" speaks to the confidence and guidance that our clients realize when they work with us. It reinforces our commitment to delivering the highest levels of value, expertise and service in everything we do. Our clients Know Greater Connections, Know Greater Insights and Know Greater Value. "PKF O'Connor Davies" is the brand name under which PKF O'Connor Davies LLP and PKF O'Connor Davies Advisory LLC, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. PKF O'Connor Davies LLP is a licensed CPA firm that provides attest services and PKF O'Connor Davies Advisory LLC and its subsidiary entities provide tax and advisory services.
For more information, please visit pkfod.com, and follow us on LinkedIn and Twitter.
Media Contact
Michelle Goyke, PKF O'Connor Davies, 914-341-7615, mgoyke@pkfod.com
SOURCE PKF O'Connor Davies
Share this article