Our lawyers have decades of experience representing clients in the retail sector. SulmeyerKupetz regularly manages Chapter 11 reorganizations, liquidation processes, and related litigation involving local, regional, and national retailers, working on behalf of debtors, creditors, and buyers.
Our representations in the retail sector have included the following examples:
- Eliminated millions of dollars in debt for shoe retailer operating 125 stores in 10 states. Secured exit financing of $16 million, modified dozens of leases, closed unprofitable locations, and confirmed reorganization plan, allowing business to exit Chapter 11 and continue work with suppliers, landlords, and other trade creditors.
- Handled Chapter 11 representation and assisted Chief Restructuring Officer in evaluating the viability of restructuring online retail company with significant inventory and numerous transfers to insiders that could be recovered, though the company had ceased operations.
- Represented Orange County surf company and constituents in sale of brand at a multiple of ten times gross.
- Represented client in acquisition of retail chain with annual revenues in excess of $200 million, through Section 363 sale in Delaware Chapter 11 case.
- Advised management in connection with buyout of large retail chain. Negotiated two levels of subordinated debt, drafting documentation with respect to senior debt, and conducted due diligence.
- Represented supplier in connection with turnaround and successful sale of pet store chain.
- Created crisis management strategy and negotiated with creditors on behalf of Los Angeles restaurant retail supply company.
- Assisted retailer in obtaining post-petition financing, as well as in structuring and implementing court-approved expedited sale process that resulted in advantageous, parallel sales of the debtor’s intellectual property and ongoing retail operations. Created liquidating Chapter 11 plan that was confirmed by the court, providing for the allocation and distribution of sales proceeds.
- Represented apparel company in obtaining court approval for sale of its business and assets, over the objection of several dissident parties, and confirmed a liquidating plan of reorganization.
- Developed successful reorganization strategy for furniture retailer that had expanded warehouses from New Mexico into Arizona shortly before economic downturn. Facilitated expedited liquidation sale of Arizona inventory, paid off debts to secured creditor from proceeds, and confirmed Chapter 11 reorganization plan, including retention of core operations.
- As Chapter 11 trustee, successfully operated clothing production and wholesale company, obtained new financing, and confirmed plan of reorganization which allowed unsecured creditors to be paid in full.
- Represented clothing retailer with dozens of locations across the country in Chapter 11 matter which concluded in the sale of the company and confirmation of Chapter 11 plan.
- As counsel to trustee, determined and implemented litigation strategy against principal, buyer, and customer of $100-million apparel company, alleging the three engaged in a “bust-out” of debtor’s business.
- Obtained multi-million-dollar recovery for creditors’ committee following a class-action lawsuit against seller of athletic bracelets. Pursued claims against principals, directors, and officers after sale of company.