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EveryWare Global, Inc., parent of the Oneida and Anchor Hocking brands, announced today financial results for the three months ended December 31, 2014. EveryWare is in the process of a pre-packaged Chapter 11 filing.
Fourth Quarter Results Overview:
Mr. Solomon continued, "As previously reported, we reached an important restructuring agreement with our lenders. That process will eliminate our current term loan debt and reduce cash interest going forward. Our lenders have further provided $40 million worth of financing through our prepackaged bankruptcy to ensure our business continues to perform in the short term and provides a good starting point for long term success." For more information, go here: http://investors.everywareglobal.com/releasedetail.cfm?ReleaseID=906365
High quality materials and a flair for design define the Peugeot brand. Peugeot manufactures its wood mills with PEFC-certified wood from sustainable managed French forests and the painted wood mills feature two coats of lacquer for long lasting beauty. Perhaps this attention to detail is the reason why, to many chefs and restaurateurs around the world, Peugeot mills stand out as the best performing mills in the world.
Longtime hotel purchasing expert Lee Evans has launched PCS-Purchasing to provide services for clients within the hotel industry. “PCS-Purchasing will provide turn-key project purchasing, along with FF&E specification and purchasing, including IT Equipment,” stated Evans. “Our flexibility, combined with 30+ years of industry experience, allows us to understand the needs of clients both big and small.” PCS-Purchasing understands the distinct needs of all parties involved in the design, development, and operational launch of high-profile properties, and they take great pride in realizing their expectations. The staff at PCS-Purchasing has extensive experience delivering comprehensive rollouts for premiere properties, and they have successfully navigated virtually every complexity that can arise in the hotel industry, from sourcing hard-to-find materials to managing logistics in remote or densely populated locations. Together with their clients, PCS-Purchasing begins by defining each organization's starting point and identifying the right enablers that will help the organization achieve full potential savings. To realize these savings, they develop a tailored action plan for each spend category. Together with the category managers and stakeholders, the PCS-Purchasing procurement consultants assess cost reduction potential by performing a bottom-up review of purchasing levers for all major categories of direct and indirect purchasing spend cost saving opportunities. These are translated into initiatives including estimated savings impact, milestones, activities and owners and are prioritized based on impact and ease of implementation. The Las Vegas-based PCS – Purchasing has several projects underway including the Westin Hotel in Washington, DC. “The Westin project is a great example where we’re able to provide specific value to the client in an FF&E refurbishment because of our knowledge of how chain hotels that are individually owned operate and view such upgrades. With clients like this, we can bring both cost savings and products to provide an elevated guest experience,” stated Evans. PCS-Purchasing Principal Lee Evans has over 30 years experience within the hotel industry both in the gaming segment with MGM Resorts, Black Gaming, and Stations Casino and non-gaming as former Corporate Director of Procurement for Westin Hotels and Resorts.
FREEFORM from Elite brings creative form and a unique stage for any chef's culinary expressions FREEFORM's sculptured shapes provides less rim and more space for what counts. Made from heavyweight melamine, FREEFORM has the look of porcelain at a fraction of the cost! For more information on Elite Global Solutions and its FREEFORM melamine dinnerware, go here:
EveryWare Global, Inc., parent to the Oneida and Anchor Hocking brands, announced that it is moving forward with the restructuring plan announced on April 1, 2015 and has filed voluntary Chapter 11 petitions to implement a prepackaged financial restructuring that cancels approximately $248 million of the Company's long-term debt in exchange for common stock representing 96% of the Company's common stock post-emergence. As previously disclosed, the terms of the restructuring support agreement include, among other things: · up to $40 million in debtor-in-possession (DIP) facility to provide liquidity during the restructuring · a reorganization plan that, after emergence from bankruptcy, provides for the secured lenders to become the owners of 96% of EveryWare Global's common stock · payment in full in cash for all holders of allowed general unsecured claims · trade vendors will continue to be paid in the ordinary course · a plan for EveryWare Global to cease to be a publicly traded company Given the typical speed of a "prepackaged" plan of reorganization, the EveryWare Global says expects to emerge from bankruptcy within 60-75 days. Importantly, the restructuring plan will create a sustainable capital structure that will ensure that the EveryWare Global is well positioned to invest in the business and pursue future growth opportunities. "We are moving forward with our previously announced, lender supported restructuring plan," said Sam Solomon, President and Chief Executive Officer of EveryWare Global. "The liquidity provided by our lenders during this process allows us to focus on running the business in the ordinary course while we deleverage our balance sheet." At Enrico, what started out as a labor of love, has turned into a handcrafted collection that brings distinct character to any tabletop. Named after Enrico Ratti, grandfather of co-founder Jim Ratti , whose Artisan wood cheese grater lent inspiration to development of the company, Enrico uses the removed stumps of trees harvested during logging operations as the raw source for their products. Materials ranging from Thai Mango, Acacia, and a specific Chinese Fir Shan Mu, in combination with water-based finishes, forms a manufacturing technique that is described as Eco-Intelligence.
The result is an unmistakable collection for the tabletop. Available in bowls, platters, boards, trays, wine racks, and serveware, Rootworks by Enrico is handcrafted design that is eco-friendly and diner-welcoming. The lacquer finish which protects and magnifies the natural beauty of the RootWorks products and while the collection is safe for food contact, although Enrico does not recommend them for hot food service. Like many wood serving pieces today, the RootWorks collection products should occasionally be treated with a light wax or mineral oil product to help brighten their luster. Enrico.
Naturally Unique....By Design. To get more infromation on Enrico and its collection of reclaimed wood serving products, go here: Enrico Wood Serving Pieces - Naturally Unique, By Design - Sean Dackermann Recent data from leading hospitality trend consultants,Technomic, show craft, artisan and small batch spirits are far from a passing fad. Libbey® Foodservice not only understands how to properly serve spirits but they also provide a wide and comprehensive range of glassware that will inspire creativity for your masterful beverage presentations. A great example is Libbey’s new CARATS Beverage Glass and ASPEN Longdrink that can add eye-catching appeal to signature spirits.
So, whatever signature beverage you are serving, Libbey likely has a glass that will help elevate your guest beverage experience even further. To learn more about Libbey and its wide range of glassware, go here:
Libbey: New Glassware Helps You Master Your Spirits Presentations Customer Service and Luxury.....Seth Godin: If your Chanel bag wears out, don't expect the same response you might find if you have trouble with something from LL Bean or Lands End. Luxury brands have long assumed that if you can afford to buy it, you can afford to replace it. That's changing. The mass brand leaders in most markets have figured out how to deliver extraordinary promises at scale. Note the high end guys. The mass ones. They do this by realizing that the cost of making the customer happy is tiny compared to the cost of leaving her unhappy. [Hint: If you think that there's any chance at all that people consider what you sell a luxury good, the answer is, they probably do.] Go to a McDonalds. Buy a Big Mac and a chocolate milkshake. Drink half the milkshake. Eat half the Big Mac. Put the rest of the Big Mac into the milkshake, walk up to the counter and say, "I can't drink this milkshake, there's a Big Mac in it." You'll get a refund. (Please don't try this, but yes, it works). It's cheaper to just say, "here's a refund," than it is to start a debate. How is a luxury brand going to compete? Is part of the story of why you pay extra because of the service you'll get? Lexus did groundbreaking work on this (compare the Lexus service story/truth to the way Porsche or Jaguar owners used to be treated). Luxury buyers who see that they're getting lesser service feel stupid, and stupid is the brand killer. If you're going to sell luxury, you probably need to figure out how to use some of the premium you charge to deliver even better service than your lower-priced competition. Editor's note: Service can be a true differentiator versus your competitors. Everyone claims to offer great customer service, but do you really? Really? To learn more about Seth Godin and what he's thinking, go here: http://sethgodin.com/sg/ Carlisle Foodservice Products newest tabletop introductions of melamine dinnerware and Eastman Tritan™ drinkware at the just completed Catersource Show 2015 in Las Vegas invoke a new artistic style to go with the company’s long-standing reputation for service and reliability.
When is a glass manufacturer make the ultimate bourbon glass?
After bourbon, what's the next great growth spirit? Tequila, Mezcal? Rum? |
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