Toy Mogul Larian Bids $900MM for Toys ‘R’ Us

Isaac Larian, CEO of MGA Entertainment, put in a formal bid of $675 million to buy the Toys”R”Us U.S stores and $215 million to buy the stores in Canada. The funds will come from Larian’s own coffers, additional investors and bank financing.

Nine West Files for Chapter 11; Wells Fargo to Agent DIP

Nine West Holdings, an accessories, women’s apparel, and jeanswear company with a portfolio of brands that includes Nine West, Anne Klein and Gloria Vanderbilt, filed Chapter 11. Wells Fargo will serve as administrative agent for up to $225 million in DIP funding.

VER Files Chapter 11, Will Receive DIP Financing from GSO

VER filed voluntary petitions for reorganization under Chapter 11 to facilitate its merger with Production Resource Group. GSO Capital Partners and other lenders pledged up to $364.7 million in DIP financing to support the restructuring.

ABI: Q1/18 Commercial Chapter 11 Filings Increase 22% Year/Year

The American Bankruptcy Institute reported total commercial Chapter 11 filings increased 22% from 1,280 in Q1/17 to 1,562 during the first three months of 2018.

SunTrust, Deutsche Support Southeastern Grocers Restructuring

Southeastern Grocers filed a pre-packaged restructuring plan as it begins Chapter 11 proceedings. SunTrust Bank is serving as agent for a $600 million ABL exit facility. Deutsche Bank is lead arranger for the exit term loan.

Remington Files for Chapter 11, Cerberus to End Ownership

According to The Wall Street Journal, firearms manufacturer Remington Outdoor has filed for Chapter 11, an anticipated move after it announced its plans to do so in February.

Gordon Bros., Hilco, Tiger, Great American Begin Toys “R” Us Liquidation

A team of disposition firms consisting of Gordon Brothers, Great American Group, Hilco Merchant Resources and Tiger Capital Group began going-out-of-business sales at all 735 Toys “R” Us and Babies “R” Us locations throughout the U.S. and Puerto Rico on March 23, 2018.

Hilco Streambank to Sell Styles for Less Assets

Styles for Less retained Hilco Streambank to market and sell its intellectual property. The sale comes as a result of the company’s Chapter 11 bankruptcy.

Union Bank Provides $25MM DIP Financing to Weinstein Co.

According to Variety, The Weinstein Company filed for bankruptcy on Monday. Union Bank will provide $25 million in DIP financing for the company.

Claire’s Files Chapter 11, Citigroup to Provide DIP Financing

According to Reuters, retail chain Claire’s Stores has filed for Chapter 11 in U.S. bankruptcy court in Delaware. Citigroup will provide DIP financing for the company as it goes through restructuring.