👰🏾New Chapter 11 Bankruptcy Filing - Occasion Brands LLC 👰🏾
Occasion Brands LLC
July 22, 2020
Occasion Brands LLC is owner and operator of three e-commerce properties that hock dresses for proms, homecomings, weddings, and other special occasions; it owns promgirl.com, simplydresses.com, and KleinfeldBridalParty.com. The company is owned by a lower middle market private equity shop called Milestone Partners. Thanks primarily to promgirl.com, the business generated gross revenue over $50mm in both ‘18 and ‘19.
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Jurisdiction: S.D. of New York (Judge Bernstein)
Capital Structure: $1.5mm of secured indebtedness via promissory notes (Milestone Partners), $2.5mm Allure promissory note, $1.325mm PPP (JPMorgan Chase Bank NA)
Professionals:
Legal: Sills Cummis & Gross PC (S. Jason Teele, Daniel Harris)
Financial Advisor: Insight Partners LLC (Robert Nolan)
Claims Agent: Omni Agent Solutions LLC (*click on the link above for free docket access)
Other Parties in Interest: