New Chapter 11 Bankruptcy Filing - Limited Stores Company LLC

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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)

Updated 3/30/17

New Filing - Choxi.com, Inc.

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Choxi.com, Inc. (aka Nomorerack.com)

  • 12/5/16 Recap: E-commerce retailer funded to the tune of $52mm that is now almost certainly completely wiped out filed for bankruptcy in response to an involuntary filing by three creditors owed $300+k on account of goods sold. Despite being named after a URL, the URL is no longer active and so we can't even see what kind of fancy wares they had (tried) to sell.   
  • Jurisdiction: S.D. of New York   
  • Company Professionals:
    • Legal: Klesdadt Winters Jureller Southard & Stevens, LLP (Tracy Klesdadt, Christopher Reilly, Stephanie Sweeney)
    • Financial Advisor: CBIZ Tax Accounting & Advisory New York LLC (Blanche Zelmanovich)
    • Claims Agent: Rust Consulting/Omni Bankruptcy LLC (*click on company name for docket)
  • Other Parties in Interest:
    • Unsecured Creditors' Committee
      • Legal: Nutovic & Associates (Isaac Nutovic)
      • Financial Advisor: CBIZ Tax Accounting & Advisory New York LLC (Blanche Zelmanovich)

Updated 12/29/16