Reheating An Airline Caterer

Freed, Dan
May 2006
Investment Dealers' Digest;5/29/2006, Vol. 72 Issue 21, p34
Trade Publication
The article presents information on how Swiss airline caterer Gate Gourmet International successfully reorganized and renegotiated its labor contracts with its private equity owner Texas Pacific Group (TPG). It came to an agreement with its creditors without going through bankruptcy. TPG bought Gate from British Airways in December 2001. Duncan Priston, a senior vice president at Houlihan Lokey and Zukin, explained that Gate fall short of sales targets needed to service its debt due to some operational difficulties and uncompetitive labor rates.


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