Vanguard Natural Resources has voluntarily filed petitions for relief under Chapter 11. Citibank underwrote a $130 DIP facility to support the company through the bankruptcy process.
Karmaloop began a formal restructuring as part of a §363 sale process. The company, subject to court approval, has secured DIP financing from a lending group led by Comvest Partners.
First Capital provided an $8.5 million asset-based senior credit facility to a manufacturer of outdoor and specialty signs. The facility is collateralized by accounts receivable and inventory.
Hawker Beechcraft has filed for Chapter 11 with the US Bankruptcy Court for the Southern District of New York. The company obtained a commitment for $400 million in debtor-in-possession financing.
The Luhrs Marine Group filed voluntary petitions for Chapter 11 in the U.S. Bankruptcy Court for the District of New Jersey. In conjunction with the filing, the company announced it received a debtor-in-possession loan from Bank of America.