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Larry Sax

Senior Managing Director at Accordion

Larry is a Senior Managing Director with over 30 years of experience as a senior Finance and Operations executive, helping public and private companies improve financial performance, strengthen their capital structure, manage constrained liquidity, streamline and enable operations, reduce risks and position clients for growth.

Larry has served as interim CFO, COO, CRO, and senior turnaround and restructuring advisory roles for leading companies across the retail, consumer products, manufacturing, financial services, and media sectors. He has extensive financial operations, performance improvement, strategic planning, liquidity management, balance sheet restructuring, refinancing, sales operations, M&A and information technology oversight experience.

Larry recently served as COO for Gordon Brothers, a multinational financial advisory firm, where he was responsible for leading the firm’s Finance & Accounting, Treasury, Financial Planning, Corporate Development (M&A), and Information Technology departments. In this role, he negotiated an amendment with the lender syndicate, expanding the credit facility and increasing liquidity and managed the COVID-driven pivot to work at home, enabling remote global access to accounting, treasury, operations, and IT infrastructures. He also led the migration of all computer servers, databases, and systems to the cloud, creating a secure and scalable global IT platform and the deployment of global VPN, two factor verification, data security, and backups.

Larry also previously served as a Senior Director in Alvarez & Marsal’s Turnaround & Restructuring Consulting practice where he assisted companies with restructuring, refinancing, turnaround management and performance improvement initiatives.

Larry served as CFO & Treasurer at Totes Isotoner, a private equity-owned manufacturer and wholesaler of umbrellas, footwear, gloves and accessories, where he led the Finance, Accounting, Treasury and FP&A departments, managed restructuring and refinancing efforts and successfully led a consensual out-of-court recapitalization of the business.

He also served as CFO for a private equity-owned nationwide retailer and subprime lender selling furniture, appliances, electronics, and jewelry. There, he managed the Accounting, Finance, Information Technology, Loan Underwriting, Collections, Recovery, Legal, and Customer Service departments and successfully led the business through bankruptcy while overseeing a multi-year plan to collect a $100M+ consumer loan portfolio. Larry also Initiated projects to improve the efficacy of the collections, recovery and legal departments.

Prior to this, Larry served as CFO for a $250M private equity-owned Verizon Wireless authorized retailer with more than 300 stores. He managed the Finance, Accounting, Store Fulfillment, Merchandising, Human Resources, and Information Technology departments and navigated the company through severely restricted liquidity. He also oversaw the implementation of several major information technology infrastructure initiatives and restructured the buying and fulfillment functions to facilitate sales of more than 30,000 phones/month.

Larry served as CFO and CRO for Derek Lam International, a private equity-owned luxury fashion designer, wholesaler, and retailer where he helped restructure and recapitalize the business in order to dissolve a joint venture with the company’s European equity sponsor. There, he managed a near-term liquidity crisis and developed cash flow analyses and pro forma business plans. Larry re-staffed and retrained the Finance department and restructured the company’s New York City real estate obligations.

Larry also provided financial advisory services to the executive team and family ownership at Forbes Magazine. He advised the Board and equity sponsors on operational improvements and cost reduction initiatives and prepared financial statements, cash flows, and the necessary analyses to restructure the balance sheet and recapitalize the business. In this project, Larry also evaluated the impact and benefit of divesting Investopedia.com.

Larry also provided financial advisory services to the CEO and Board at Finlay Enterprises, a $1B jewelry retailer with more than 600 licensed departments in Macy’s, Bloomingdale’s, Lord & Taylor and Dillard’s and 125 company owned jewelry stores. He analyzed strategic alternatives, developed revised business plans and facilitated the divesture of Bailey Banks & Biddle, Carlyle and Congress Jewelers.

Larry served as CFO at John Hardy, an international jewelry designer and manufacturer where he restructured, re-staffed and managed the Finance and Accounting departments. There, he led financial planning & analysis, reporting, cash management and lender relationships, as well as the financial relationships with primary customers including Saks, Bloomingdale’s and Neiman Marcus.

Larry provided financial advisory services to Ascendia Brands during the acquisition of several Playtex consumer brands including Baby Magic, Mr. Bubble and Binaca. Larry prepared the strategic business plan and financial analysis for the transactions, performed the buy-side due diligence, and developed the confidential information memorandum to market and finance the deal.

Larry also founded and served as President/Owner of Cap Factory, a nationwide specialty retail, wholesale and e-commerce business selling point-of-sale custom embroidered baseball caps. Larry was responsible for all aspects of the business, with a focus on strategic planning, finance, vendor relations, site selection, and lease negotiation. He built the company to 125+ employees with 15 stores across the U.S. and developed a wholesale business serving corporate customers, sports teams, movie and television productions, charities and schools, including capfactory.com.

Larry began his career as a Manager in the Turnaround & Restructuring practice of PricewaterhouseCoopers in Boston. He subsequently served as a Managing Director in the Turnaround & Restructuring Consulting practice of NHB Advisors, a national restructuring, financial advisory and corporate renewal firm.

Larry earned a


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