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Fred Kraegel is a Senior Consultant with Bridge Associates, LLC. He joined Bridge in 2003. Mr. Kraegel has extensive strategic, financial and operational restructuring experience.
Currently, he co-heads the Bridge team serving as financial advisor for the Chapter 7 Trustee for Refco, LLC. Refco was a commodity futures broker which, along with its affiliates, experienced significant financial difficulties and filed Chapter 7 in November 2005.
Representative Matters
In addition, Mr. Kraegel is also a member of the Bridge team serving Impath Inc. and its Liquidation Trust following confirmation of its Plan of Reorganization in 2005. Impath was a provider of oncological diagnostic services which filed for bankruptcy in the Southern District of New York on September 28, 2003. Mr. Kraegel is assisting the post-confirmation trustee a Bridge Member with the Liquidation Trust�s tax refund claims and its litigation against the debtors� former auditors, KPMG.
Mr. Kraegel was in charge of Bridge�s team at Wickes Inc., a $450 million supplier of building materials to the construction and home building industry. Prior to the sale of substantially all of the Company�s assets in mid-2004, Mr. Kraegel was the interim manager of the Wickes� finance function. Mr. Kraegel also manages the post-confirmation wind down of Brill Media LLC, a media holding company with approximately 12 radio stations and publisher of 54 local newspaper and buyer guides. During its bankruptcy he managed Brill�s accounting function and assisted in the asset sale of the Brill properties for $118 million to Regent Communication and 21st Century Newspapers.
Other Bridge engagements include:
Member of the Bridge Accelerated Strategic Assessment Team, which prepared a business plan feasibility report for UAL Corporation (United Airlines) and its labor leadership.
Interim Chief Financial Officer for a real estate development concern and management company with over $250 million of assets.
Member of Bridge�s Crisis Management Team for Crown Central Petroleum Corporation, a multi-billion dollar operator of Texas refineries, and a wholesale and retail distributor of petroleum and convenience products.
PRIOR EXPERIENCE
Mr. Kraegel is the former Senior Vice President and Chief Financial Officer of Best Products Co., Inc., where he was responsible for financial and administrative functions. At Best Products, Mr. Kraegel managed preparation of all public offering documents and processes related to the issuance of over 30 million shares of common stock. He also negotiated a $300 million revolving credit facility and established a private label credit card program resulting in $150 million in annual sales.
As Executive Vice President of Finance and MIS for P.A. Bergner & Co. (now Carson, Pirie Scott & Co.), Mr. Kraegel was responsible for the Company�s accounting, treasury and credit card operations, information technology and tax functions.
Mr. Kraegel joined Peat, Marwick Mitchell & Co. (KPMG) in 1971 and was named partner in 1980.
Prior to joining Bridge, Mr. Kraegel also held executive positions with: AMF Bowling Worldwide, Inc.; ACME Markets of Virginia, Inc.; Factory Card Outlet Corporation; and First North American National Bank, a subsidiary of Circuit City Stores, Inc.
Professional & Civic Activities
Since 1986, he has served on Valparaiso University's Board of Directors and is currently its Treasurer. Mr. Kraegel is a Certified Public Accountant.
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