New Chapter 11 Filing - The Original Soupman Inc.

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The Original Soupman, Inc.

  • 6/13/17 Recap: Bankruptcy for you! Company that licensed the name and recipes of the chef who inspired the "Soup Nazi" on Seinfeld has filed for bankruptcy with a $2mm DIP credit facility to fund the case. The CFO had been indicted for tax evasion. We wonder whether the prison he goes to will have soup that lives up to the Soupman standard. Anyway, we digress. The company sells soups to and through grocery chains (6500 of them) and club stores throughout the United States; it also provides soup to the New York City School System and has six franchised restaurants, the largest of which resides on the Upper West Side. So a Nazi serves the school system. Awesome. 
  • Jurisdiction: D. of Delaware (Silverstein).
  • Capital Structure: $3.66mm secured debt (Hillair Capital Investments LP), $3.3mm unsecured notes.
  • Company Professionals:
    • Legal: Polsinelli PC (Christopher Ward, Jarrett Vine, Jeremy Johnson)
    • Financial Advisor/CRO: Wyse Advisors LLC (Michael Wyse) 
    • Claims Agent: Epiq Bankruptcy Solutions LLC (*click on company name above for free docket access)
  • Other Parties in Interest:
    • DIP Lender: Soupman Lending LLC
      • Legal: Arent Fox LLP (Robert Hirsh, Beth Brownstein) & (local) Bayard PA (Justin Alberto, Erin Fay)

Updated 6/17/17

New Filing - Gracious Home LLC

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Gracious Home LLC

  • 12/15/16 Recap: New York based consumer products retailer of home furnishings (i.e., china, glassware, metalware, and all kinds of other things that millennials scoff at buying) files for bankruptcy to salvage what's left of its liquidating business after failing to renegotiate with its lender and landlords. This is its second bankruptcy filing in 6 years.
  • Jurisdiction: S.D. of New York 
  • Debt: $6.5mm secured debt (Signature Bank)
  • Company Professionals:
    • Legal: Trenk DiPasquale Della Fera Sodono (Joseph DiPasquale, Irena Goldstein)
    • Financial Advisor: B. Riley & Co. (Perry Mandarino, Adam Rosen, Daniel Golynskiy)
    • Claims Agent: Prime Clerk LLC (*click on company name for docket)
    • Other Parties in Interest:
      • Official Committee of Unsecured Creditors:
        • Legal: Seward & Kissel LLP (John Ashmead, Robert Gayda, Catherine LoTempio, Michael Tenenhaus) 
        • Financial Advisor: Wyse Advisors LLC (Michael Wyse)
      • Gracious Home Lending LLC
        • Legal: Arent Fox LLP (Robert Hirsh)

Updated 5/12/17