At this morning’s 341, the schedules listed “goodwill — value: priceless,” which is cute until you’re reconciling DIP covenants; we rebuilt the 13-week in Excel, rejected two noncritical leases under 365, and still penciled a 22% unsecured recovery… What’s your best ‘wishful asset’ sighting that still led to a viable plan?
That “goodwill — value: priceless” drives me nuts; I slap a quick relief‑from‑royalty backsolve (3–5% on trailing sales) to cap the brand and tie it to a DIP milestone, not the 13‑week optimism. We salvaged a about 21% unsecured once by pairing that with a 10% weekly variance cap and a cash sweep if the brand sale slipped — Excel made the variance policing painless. Did you bake cure costs on those 365 rejections into the 22%, or were they de minimis?
I’ve capped that kind of ‘priceless’ to the NPV of retained-customer contribution — six months of cohort margin after churn — and parked it outside DIP headroom; if sales are lumpy, I pair @daisyq_92’s RFR with a downside 363 IP comp set so no one pretends it spends like cash. Priceless is great for my kid’s macaroni art; got the data to run a quick cohort NPV?