Nasty Gal Inc.

• 11/9/16 Recap: Sophia Amoruso's provocative female-fashion e-commerce retailer with two California brick-and-mortar locations collapses under the weight of its own growth, global currency effects, and the inability to tap capital markets given depressed valuations for retailers, generally, and e-commerce businesses, specifically, and files for bankruptcy to delever its balance sheet. There is no stalking horse bidder for the assets. 87% of its revenues are from e-commerce. The company had at least $65mm of venture capital funding (Index Ventures, Ron Johnson).
• Jurisdiction: C.D. of California
• Capital Structure: $15mm secured debt (Hercules Technology Growth Capital Inc.), $5mm unsecured convertible bridge loan (at 3x liquidation preference)(Stamos & Johnson Fund I, LLP)   
• Company Professionals:
  • Legal: Robins Kaplan LLP (Scott Gautier, Lorie Ball, Kevin Meek)
  • Investment Banker: Peter J. Soloman Company 
  • Claims Agent: Rust Consulting/Omni Bankruptcy (*click on company name for docket)
• Other Parties in Interest:
  • Hercules Technology Growth Capital Inc.
    • Legal: Cole Schotz (Stuart Komrower, Ryan Jareck) & (local) Pachulski (Jeffrey Pomerantz, Jeffrey Dulberg)
  • Boohoo F I Limited
    • Legal: Troutman Sanders LLP (Penelope Parmes, Harris Winsberg, Stephen Roach)
  • Unsecured Creditors' Committee
    • Legal: Levene Neale Bender Yoo & Brill LLP (Gary Klausner, Todd Arnold)
    • Financial Advisor: B. Riley & Co. 

Updated 12/30/16