GGI Holdings, LLC (Gold’s Gym) – Iconic Fitness Brand Files Chapter 11 Citing...
[Developing Story] May 4, 2020 – GGI Holdings, LLC (Gold's Gym) and one affiliated Debtors (“Gold's Gym” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern...
View ArticleGGI Holdings, LLC (Gold’s Gym) – Seeks Authority to Access $20mn of DIP...
May 4, 2020 – The Debtors requested Court authority to (i) access $20.0mn of debtor-in-possession (“DIP”) financing, $9.0mn on an interim basis, and (ii) use cash collateral [Docket No. 21]. The DIP...
View ArticleBorden Dairy Company – Dairy Processor Seeks Approval of Bidding Procedures...
May 5, 2020 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order. The bidding procedures order would approve bidding procedures for the sale of substantially all...
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John Varvatos Enterprises, Inc. – Men’s Clothing Retailer (and Rock ‘n Roll...
May 6, 2020 – John Varvatos Enterprises, Inc. and two affiliated Debtors (“John Varvatos” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware,...
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John Varvatos Enterprises, Inc. – Seeks $20.5mn of DIP Financing ($6.83 New...
May 6, 2020 – The Debtors requested Court authority to (i) access $20.5mn debtor-in-possession (“DIP”) financing, including $10.25mn on an interim basis, from Lion/Hendrix Cayman Limited, the...
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Neiman Marcus Group LTD LLC – Iconic Retailer Succumbs to Coronavirus and...
May 7, 2020 – Neiman Marcus Group LTD LLC and 23 affiliated Debtors (“Neiman Marcus ” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of...
View ArticleNeiman Marcus Group LTD LLC – Seeks $675mn of DIP Financing with First $275mn...
May 7, 2020 – The Debtors filed an emergency motion to access $675.0mn of debtor-in-possession (“DIP”) financing and use cash collateral [Docket No. 104]. The expensive DIP financing (see detail as to...
View ArticleTechniplas, LLC – Seeks Approval of Bid Procedures for Asset Sale, Bidder...
May 7, 2020 – The Debtors filed a motion requesting each of a bidding procedures order and a sales order [Docket No. 16]. The bidding procedures order would approve (i) bidding procedures in relation...
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Stage Stores, Inc. – 700 Store Retailer (Goody’s, Peebles, Gordmans) Files...
May , 2020 – Stage Stores, Inc. and one affiliated Debtor (NYSE: SSI; “Stage” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Texas, lead...
View ArticleNeiman Marcus Group LTD LLC – Court Authorizes $275mn of Interim DIP...
May 8, 2020 – The Court hearing the Neiman Marcus Group cases issued an order authorizing the Debtors to (i) access $275.0mn of debtor-in-possession (“DIP”) financing on interim basis and (ii) use cash...
View ArticleOak Point Partners, LLC acquires remnant assets of the Liquidating Trust for...
Oak Point Partners, LLC acquires remnant assets of the Liquidating Trust for the Plastech Engineered Products, Inc. Bankruptcy Estates September 11, 2017 – Oak Point Partners, LLC acquired the remnant...
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Pioneer Energy Services Corp. – Court Confirms Prepackaged Plan of...
May 11, 2020 – The Court hearing the Pioneer Energy Services Corp cases confirmed the Debtors' Prepackaged Chapter 11 Plan of Reorganization [Docket No. 331]. On March 1, 2020, Pioneer Energy Services...
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Pace Industries, LLC – Court Rejects Macquarie Septa Efforts to Have a...
May 11, 2020 – The Court hearing the Pace Industries cases denied a motion filed by minority investor Macquarie Septa (US) I, LLC ("Macquarie") seeking a dismissal of several of the Debtors’ Chapter 11...
View ArticleStage Stores, Inc. – Seeks Court Authority to Continue Store Liquidating...
May 11, 2020 – The Debtors filed a motion requesting Court authority (i) to “close stores and begin wind-down operations” and (ii) to continue an existing relationship with Gordon Brothers Retail...
View ArticleMiami Air International, Inc. – Extended Nature of COVID-19 Pandemic Forces...
May 11, 2020 – The Debtor filed a motion to convert its Chapter 11 case to a case under Chapter 7 arguing that its hopes to reorganize in Chapter 11 had been dashed by the extended nature of the...
View ArticleBorden Dairy Company – Prepetition Lender Objects to Proposed KEIP and KERP...
May 11, 2020 – Prepetition lender PNC Bank, National Association objected to the Debtors’ proposed Key Employee Retention Plan (the "KERP") and Key Employee Incentive Plan (the "KEIP”) arguing that (i)...
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Intelsat S.A. – Satellite Giant Files Chapter 11 ($17bn in Liabilities)...
[Developing Story] May 14, 2020 – Intelsat S.A. and 34 affiliated Debtors (NYSE: I; “Intelsat” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District...
View ArticleStage Stores, Inc. – Court Order Gives Debtors and Gordon Brothers Authority...
May 13, 2020 – The Court hearing the Stage Stores cases issued an interim order that allows the Debtors to "immediately" begin their store closing process [Docket No. 144]. The order reads in part:...
View ArticleDura Automotive Systems, LLC – Creditors’ Committee Objects to Exclusivity...
May 13, 2020 – The Debtors' Official Committee of Unsecured Creditors (the “Committee”) objected to the Debtors' most recent motion to extend their exclusive Plan filing and solicitation periods,...
View ArticleMurray Energy Holdings Co − Citing Defaulted $350mn DIP Facility and Debtor...
April 22, 2020 – Citing lack of continued funding under a now defaulted debtor-in-possession (“DIP”) facility and debtor mismanagement, creditor CONSOL Energy Inc., (“CONSOL”) has filed a motion...
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