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May 6, 2020 – The Debtors requested Court authority to (i) access $20.5mn debtor-in-possession (“DIP”) financing, including $10.25mn on an interim basis, from Lion/Hendrix Cayman Limited, the prepetition holder of four notes (the “DIP Lender” and also the Debtors' credit bidding stalking horse in a section 363 auction/sale process) and (ii) use cash collateral [Docket…

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May 6, 2020 – John Varvatos Enterprises, Inc. and two affiliated Debtors (“John Varvatos” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 20-11043. The Debtors, a "rock 'n roll" lifestyle brand men's clothing retailer, are represented by Derek C. Abbott of Nichols…

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May 5, 2020 – The Debtors filed a motion requesting each of a bidding procedures order and a sale order. The bidding procedures order would approve bidding procedures for the sale of substantially all of the assets (the “Sale”) and the sale order would authorize the Sale [Docket No. 564]. The Debtors have yet to…

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May 4, 2020 – The Debtors requested Court authority to (i) access $20.0mn of debtor-in-possession (“DIP”) financing, $9.0mn on an interim basis, and (ii) use cash collateral [Docket No. 21].  The DIP financing is to be provided by TRT Holdings, Inc. ("TRT") which acquired Gold's Gym from private equity firm Brockway Moran & Partners in…

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May 4, 2020 – GGI Holdings, LLC (Gold's Gym) and one affiliated Debtors (“Gold's Gym” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, lead case number 20-31318. The Debtors, an iconic chain of fitness centers founded in Venice Beach in 1965 and made famous…

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May 1, 2020 – The Court hearing the OneWeb Global Limited cases issued an order authorizing the Debtors to (i) access $10.0mn of new money debtor-in-possession ("DIP") term loans being provided initially by SoftBank, (ii) roll-up $30.0mn of prepetition debt and (iii) use cash collateral [Docket No. 121].  The present $10.0mn of financing is part…

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May 3, 2020 – Chinos Holdings, Inc  and one affiliated Debtors (“J.Crew Group” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of Virginia, lead case number 20-10343. The Debtors, an omni-channel retailer of women's, men's and children's apparel, shoes and accessories, are represented by Tyler P….

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April 30, 2020 – The Court hearing the Ravn Air Group cases issued a final debtor-in-possession (“DIP”) financing order authorizing the Debtors to (i) access an additional $6.0mn of new money DIP financing, with a further $2.0mn available at the DIP lender’s sole discretion, and (ii) continue using cash collateral [Docket No. 148]. The Court…

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April 30, 2020 – EP Energy Corporation filed a motion to extend the periods during which they have an exclusive right to file a Chapter 11 Plan, and solicit acceptances thereof, through and including October 31, 2020, and December 31, 2020, respectively [Docket No. 1207]. Absent the requested relief, the Plan filing and solicitation periods…

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April 30, 2020 – Rubie's Costume Company, Inc. and five affiliated Debtors (the “Rubie's Group” or the “Debtors”) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Eastern District of New York, lead case number 20-71970. The Debtors, the world’s largest designer, manufacturer, and distributor of costume and related party accessories, are…