CASE STUDY: A major retail company based in Connecticut recently acquired a 155 store retail chain based in Massachusetts for $700 million. In connection with the transaction, the acquiror needed to convert all of the acquired stores within one year. SOLUTION: Stores were closed in three separate phases, providing for an orderly transition. While the first tranche (55 stores) was closed and converted, the remaining 100 locations were operated under the acquired company's former banner, until subsequently closed and converted.   Financial Performance During the conversion, The Nassi Group's priority was to maximize sales and minimize expenses. In this regard, we structured our fee based on the success of the sale and guaranteed a minimum return and a cap on expenses. Human Resources The Nassi Group worked with the target company's employees during the sale and conversion. Our goal was to retain and re-train the majority of employees - a critical objective of the acquiror's conversion plan. Toward this end, Nassi Group supervisors created incentive programs to motivate store employees and to increase sales. Continuing Operations The Nassi Group managed all aspects of the on-going non-converted stores, including on-order, purchasing, human resources, loss prevention, advertising and promotion. Guest Relations/Customer Service In conjunction with the store closings, we implemented key strategies and promotions designed to protect the acquiror's reputation for quality service. Merchandise Sell-through We analyzed the sale results and progressively increased the discounts used to maximize sale proceeds. There was no inventory remaining at the end of the sale. Loss Prevention The Nassi Group assisted with store security to reduce shrinkage. Maintenance Our supervisors ensured that all fixtures and equipment remained in the store and that housekeeping was maintained. Sales Promotion The Nassi Group analyzed the promotion of the sale within the specific parameters of the company's expense budget.