Fred Kraegel

Senior Consultant

Fred Kraegel is a Senior Director with Bridge Associates LLC, joining in 2003.  Mr. Kraegel has   extensive strategic, financial and operational restructuring experience. In addition, Mr. Kraegel serves on a number of corporate boards of directors including serving as the Chairman of the Board for Concordia Plan Services, Inc. and related Trusts, an organization providing retirement and other benefit plans to over 6000 employers.

Representative Matters

• Currently Mr. Kraegel is a lead member of the Bridge team providing financial advisory services to the Trustee of the SemGroup Litigation Trust.  The Trust, which was formed upon the confirmation of a Chapter 11 Plan in November 2009, is responsible for pursuing legal matters related to a number of topics.
• Currently Mr. Kraegel heads the Bridge bankruptcy advisory team assisting Ciena Capital LLC in connection with its September 2008 bankruptcy filing in the Southern District of New York.
• Mr. Kraegel 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. 
• Currently Mr. Kraegel leads the Bridge team serving monoline insurers as they evaluate restructuring alternatives.  Bridge believes it is the leading provider of Solvency Opinion related services to monoline insures.   
• Led team of Bridge professionals assisting a major Las Vegas, NV casino and hotel developer as it evaluated various alternatives regarding its financial structure and relationships with its lenders.
• 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 assisted the post-confirmation trustee – a Bridge Member – with the Liquidation Trust.
• 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. 
• 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.
• 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

Prior to joining Bridge, Mr. Kraegel held executive positions with a number of organizations including: AMF Bowling Worldwide, Inc. (Executive Vice President and Chief Administrative Officer and Board member); ACME Markets of Virginia, Inc. (President and Board member); Factory Card Outlet Corp.(Senior Vice President and Chief Financial Officer); and First North American National Bank, a subsidiary of Circuit City Stores, Inc. (President and Board member)

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, Mr. Kraegel managed preparation of all public offering documents and processes related to the issuance of over 30 million shares of common stock.  He significantly reduced expenses by critically evaluating financial results at  operating locations. 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. (now KPMG LLP) in 1971 and was named a partner in 1980.  He was highly successful in identifying and attracting new clients to the Firm.  Mr. Kraegel helped clients identify and acquire targets up to $500 million and assisted clients with a wide range of securities and financial reporting issues.