According to BankruptcyData, Toys “R” Us ranks as the 3rd largest retail bankruptcy of all time–with nearly $7 billion in pre-petition assets. Kmart’s 2002 and Federated Department Stores’ 1990 Chapter 11 filings hold respective first and second place titles on that list. In light of the recent barrage of high-profile retail bankruptcies, including Toys “R”…

The U.S. Bankruptcy Court approved First NBC Bank Holding’s motion for enlargement of the exclusive period and time within which the Debtor’s Plan may be accepted and confirmed. The order states, “It Is Ordered that, subject to the terms of the Stipulation, with respect to solely the Committee, the 120-day exclusive period within which the…

Ciber’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Debtors’ Disclosure Statement. The committee asserts, “The Disclosure Statement fails to contain ‘adequate information’ as that term is defined in 11 U.S.C. section 1125. It also includes a number of materially misleading statements. Specifically, certain key information is either…

On September 11, 2017, Moody’s Investors Service downgraded David’s Bridal, Inc.’s corporate family rating to Caa2 from Caa1, probability of default rating to Caa2-PD from Caa1-PD, senior secured term loan rating to Caa1 from B3 and affirmed its Caa3 rating on the Company’s senior unsecured notes. According to Moody’s, the downgrade reflects David’s Bridal’s heightened…

BankruptcyData’s detailed analysis and summary of Foundation Healthcare’s First Amended Joint Chapter 11 Plan of Liquidation, dated August 9, 2017, is now available. The U.S. Bankruptcy Court confirmed the Plan on September 11, 2017; however, an effective date has not yet been issued. BankruptcyData notes, “The majority of the Debtors’ assets were foreclosed upon prior…

Privately-held AeroGroup International (a/k/a Aerosoles) and five affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-11962. The Company, which designs, manufactures and sells footwear and accessories, is represented by Scott D. Cousins of Bayard. According to documents filed with the Court, “After any…

The U.S. Bankruptcy Court approved Oakridge Holdings motion for a 120-day extension of the exclusive period during which the Debtors can file a plan through and including January 18, 2018. As previously reported, “The Debtors have made significant progress towards reorganization. They have obtained crucial post-petition financing to begin working on the backlog of orders…

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