Alex and Ani, LLC
FILING ALERT: Alex and Ani Files Chapter 11 in Delaware
Wed 06/09/2021 21:14 PM
Relevant Document:
Voluntary Petition
Alex and Ani, LLC, an East Greenwich, R.I.-based jewelry company, filed for chapter 11 protection today in the Bankruptcy Court for the District of Delaware. The company reports $100 million to $500 million in both assets and liabilities. The debtors are represented by Kirkland & Ellis and Klehr Harrison Harvey Branzburg as bankruptcy counsel. The debtors are also working with Portage Point Partners as financial advisors and investment bankers. Robert Trabucco is the chief restructuring officer. KCC is the claims agent. The lowest filed case number is 21-10917 (A and A Shareholding, Co., LLC). For access to the relevant documents above as well as our First Day by Reorg team's coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities including the Alex and Ani bankruptcy filing Request a Trial here.
The resolutions attached to the petition refer to a restructuring support agreement dated as of June 9 and a chapter 11 plan of reorganization contemplated by the RSA, along with a settlement agreement “by and among A and A Shareholding Co., LLC, the Rafaelian Entities (as defined in the Settlement Agreement), the Lion Entities (as defined in the Settlement Agreement), and The Bathing Club LLC.” The petition also references the use of cash collateral with respect to “(a) that certain Credit Agreement, dated as of January 29, 2016 (as amended from time to time), by and among Alex and Ani, LLC, as borrower, A and A Shareholding Co., LLC, as holdings, the lenders party thereto, the guarantors party thereto, and Wilmington Trust, National Association, as successor administrative agent and (b) that certain Second Lien Credit Agreement, dated as of September 13, 2019 (as amended from time to time), by and among Alex and Ani, LLC, as borrower, A and A Shareholding Co., LLC, as holdings, the lenders party thereto, the guarantors party thereto, and Wilmington Trust, National Association, as administrative agent.”
The list of largest unsecured creditors consists almost entirely of rent and trade debt, with the top rent claims held by Chapel Associates II LLC, Simon Property Group, Inc., Brookfield Properties Retail Inc., Macerich Oaks LP and Westfield LLC.
A list of affiliated debtors is below:
Reorg First Day will provide a full summary once the first day briefing is complete.
Voluntary Petition
Alex and Ani, LLC, an East Greenwich, R.I.-based jewelry company, filed for chapter 11 protection today in the Bankruptcy Court for the District of Delaware. The company reports $100 million to $500 million in both assets and liabilities. The debtors are represented by Kirkland & Ellis and Klehr Harrison Harvey Branzburg as bankruptcy counsel. The debtors are also working with Portage Point Partners as financial advisors and investment bankers. Robert Trabucco is the chief restructuring officer. KCC is the claims agent. The lowest filed case number is 21-10917 (A and A Shareholding, Co., LLC). For access to the relevant documents above as well as our First Day by Reorg team's coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities including the Alex and Ani bankruptcy filing Request a Trial here.
The resolutions attached to the petition refer to a restructuring support agreement dated as of June 9 and a chapter 11 plan of reorganization contemplated by the RSA, along with a settlement agreement “by and among A and A Shareholding Co., LLC, the Rafaelian Entities (as defined in the Settlement Agreement), the Lion Entities (as defined in the Settlement Agreement), and The Bathing Club LLC.” The petition also references the use of cash collateral with respect to “(a) that certain Credit Agreement, dated as of January 29, 2016 (as amended from time to time), by and among Alex and Ani, LLC, as borrower, A and A Shareholding Co., LLC, as holdings, the lenders party thereto, the guarantors party thereto, and Wilmington Trust, National Association, as successor administrative agent and (b) that certain Second Lien Credit Agreement, dated as of September 13, 2019 (as amended from time to time), by and among Alex and Ani, LLC, as borrower, A and A Shareholding Co., LLC, as holdings, the lenders party thereto, the guarantors party thereto, and Wilmington Trust, National Association, as administrative agent.”
The list of largest unsecured creditors consists almost entirely of rent and trade debt, with the top rent claims held by Chapel Associates II LLC, Simon Property Group, Inc., Brookfield Properties Retail Inc., Macerich Oaks LP and Westfield LLC.
A list of affiliated debtors is below:
Reorg First Day will provide a full summary once the first day briefing is complete.
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