New Filing - Nasty Gal Inc.
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.
- Hercules Technology Growth Capital Inc.
Updated 12/30/16