EveryWare Global Inc. (Nasdaq: EVRY), which has suffered from losses recently, has gotten a $20 million investment from private equity group Monomoy Capital Partners LP.

The Lancaster, Ohio-based company sells a line of tabletop and food preparation products under the Anchor Hocking, Anchor, Anchor Home, FireKing, Oneida, Buffalo China, Delco and Sant' Andrea brands. In Europe, the company sells kitchen goods under the Viners, Mermaid, George Wilkinson, Great British Bakeware, Longlife and RTA brands. EveryWare was formed by the merger of Anchor Hocking and Oneida in March 2012.

On July 30, EveryWare and Monomoy entered into a securities purchase agreement under which Monomoy agreed to invest $20 million in return for series A redeemable preferred stock and warrants to acquire about 4.44 million shares of common stock. Monomoy, a New York private equity fund, had previously invested in Oneida in 2011. 

With the additional money, EveryWare has also been able to get a waiver on the company's default on its term loan. EveryWare defaulted on the term loan with Deutsche Bank AG because it failed to comply with the consolidated leverage ratio and interest-cover ratio covenants for the first half of the year. The company had come to a forbearance agreement with the lender, but it expired on July 29. EveryWare was also able to amend an asset-based loan agreement to increase its revolver from $55 million to $60 million.

Everyware raised substantial doubt about its ability to continue as a going concern in a May 15 filing with the U.S. Securities and Exchange Commission because it had defaulted on the Deutsche Bank loan. At the time, it was also looking for other sources of liquidity.

The company has been working to bring manufacturing more in line with demand by temporarily shutting down two U.S. manufacturing facilities in May. During that time, employees were furloughed without pay as EveryWare tried to reduce inventory.

EveryWare also hired Alvarez & Marsal as a financial adviser to help with the savings plan, and Forsythe in order to consolidate the company's supply base. EveryWare says that it has struggled as the macroeconomic business environment in North America and western Europe have faced challenges, and that net sales were down 4.5 percent for the first quarter.

The company's revenue was $94.8 million in the first quarter of 2014, compared with $99.3 million for the first quarter of 2013, SEC filings show. EveryWare declined to comment for this story through a representative.

For the previous edition of Turnaround Tuesday, see "Alion Science Granted More Time to Refinance Notes." 

For more struggling companies, see Mergers & Acquisitions Distressed Company Watch List.