New Chapter 11 Bankruptcy Filing - Limited Stores Company LLC
Limited Stores Company LLC
- 1/17/17 Recap: Sun Capital owned multi-channel retailer with 250 locations (down from a peak of 750) filed for bankruptcy to continue its Hilco-assisted liquidation and sell its IP and e-commerce channel for a proposed ~$25.5mm sum to Sycamore Partners. Looks like some "A Malls" owned by Simon Property Group and GGP Limited Partnership just got nicked.
- Jurisdiction: D. of Delaware
- Capital Structure: $50mm RCF (unfunded, BofA), $13.4 TL (Cerberus Business Finance LLC)
- Company Professionals:
- Legal: Klehr Harrison Harvey Branzburg LLP (Domenic Pacitti, Michael Yurkewicz)
- Financial Advisor: RAS Management Advisors LLC (Timothy Boates)
- Investment Banker: Guggenheim Securities LLC (Durc Savini, Ryan Mash, Michael Gottlieb, Ben Loveland, Justin Kundrat, Grace Dai)
- Sponsor: Sun Capital Partners Inc.
- Claims Agent: Donlin Recano (*click on company name for docket)
- Other Parties in Interest:
- Cerberus Business Finance LLC
- Legal: Klee Tuchin Bogdanoff & Stern LLP (Michael Tuchin, David Fidler, Jonathan Weiss)
- Sycamore Partners
- Legal: Kirkland & Ellis LLP (James Stempel)
- TradeGlobal LLC
- Legal: Squire Patton Boggs (US) LLP (Elliot Smith) & (local) Polsinelli PC (Christopher Ward)
- Official Committee of Unsecured Creditors
- Legal: Kelley Drye & Warren LLP (Jason Adams, James Carr, James Shickich, Kristin Elliott) & Pachulski Stang Ziehl & Jones LLP (Bradford Sandler, James O'Neill)
- Financial Advisor: CBIZ Accounting Tax and Advisory of New York (Esther DuVal)
- Cerberus Business Finance LLC
Updated 3/30/17