News

Fort Dearborn Raises DIP Financing for Dennis Bamber, Inc.

Chicago, Illinois – November 29, 2006

Fort Dearborn Advisors announced today that it secured $25 million of debtor-in-possession financing for its client, Dennis Bamber, Inc. The DIP facility was provided by LaSalle Bank of Chicago and was approved by Judge Harry C. Dees, Jr. of the US Bankruptcy Court for the Northern District of Indiana in South Bend on November 28th.

Headquartered in South Bend, Indiana, Dennis Bamber is a leader in selling musical instruments through both its state-of-the-art retail location and multiple internet sites. The Company sells band and orchestral instruments under the Woodwind & Brasswind brand name and rock ‘n roll “combo” instruments under the Music 123 brand. Founded in 1978, Dennis Bamber pioneered the use of catalogs to sell musical instruments and today its master catalog is considered the definitive product reference guide in the industry. The Company carries over 60,000 products and serves both the amateur and professional markets.

Vito Mitria, Managing Director at Fort Dearborn Advisors and head of the firm’s Special Situations Group stated “This DIP facility will enable Bamber to continue serve its customers and pay vendors while we work with the Company to bring this case to a successful conclusion. Bamber has a great history of being an innovator in the musical instruments retail business and we are confident the Company will have a strong future.”

John Waller, Senior Vice President at Fort Dearborn Advisors, said “Fort Dearborn is working diligently on behalf of Bamber to evaluate all of the Company’s alternatives in this case and we look forward to a successful outcome. Our industry knowledge and deep experience in special situations will certainly benefit Bamber, its customers, suppliers and lenders as we work through this case.”

Vito Mitria, Jeff Schneiders and John Waller comprise the investment banking team Fort Dearborn assigned to the transaction.