In 1995 Mr. McAuliffe served as chief executive of the $50 million entertainment division of Edison Brothers Stores, Inc. (NYSE:EBS) The parent company was a national retailer with $1.75 billion in shoe and apparel sales. Edison experienced a significant decline in the business of its core shoe and apparel stores which led the parent to file for Chapter 11 protection late in the year. Mr.McAuliffe structured a management buyout plan for his division, attracted the private equity firm Sun Capital Partners as equity investors, negotiated a binding finance agreement with a major Bank, and received bankruptcy court approval for the acquisition, subject to higher and better bids. The Sun Capital Group withdrew at auction in competition with Namco Cybertainment, Inc. a Japanese industry manufacturer with US operations, collecting a break up fee. Over 90% of the entertainment locations continued in operation under the new owner