Harry & David Eyes Restructuring Aided By Jones Day

Law360, New York (January 20, 2011, 7:04 PM EST) -- Gift basket supplier Harry & David Holdings Inc. has hired Jones Day and financial adviser Rothschild Inc. to explore capital restructuring possibilities on the back of disappointing holiday sales numbers.

The Medford, Ore.-based company said Tuesday that preliminary financial results for its most recent fiscal quarter were “significantly below” expectations, prompting the company to retain legal and financial counsel to look into “recapitalization alternatives.”

The disappointing initial results for the second fiscal quarter of 2011, which ended Dec. 25, will prevent Harry & David from borrowing...
To view the full article, register now.