Fri 02/10/2023 16:32 PM
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An ad hoc group of lenders to Shutterfly has hired Houlihan Lokey as the company’s performance and liquidity position continue to deteriorate, according to sources.

The Apollo-backed company reported adjusted EBITDA of negative $33 million for the first quarter of the current fiscal year, followed by adjusted EBITDA of $20 million in the second quarter and negative $51 million in the most recent quarter.

Shutterfly’s liquidity position declined to $134 million at the end of the second...
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