Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • Resolving MCA Distress
  • Recruiting
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
    • Resolving MCA Distress
  • Recruiting
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

James Candy Files Chapter 11; OceanFirst to Provide $5.257MM Cash Collateral

byABF Journal Staff
November 14, 2018
in News

James Candy Company (JCC) filed voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of New Jersey. JCC anticipates the process of reorganization to move swiftly as it continues negotiations with creditors and outstanding vendors.

JCC will continue to operate its James’ Candy, Fralinger’s Salt Water Taffy and Bayard’s Chocolate Stores as well as its online mail order business. Customers should not expect any changes in operations and product fulfillment during the 2018 holiday season and thereafter. The company plans to continue payment of employee wages, benefits, vendors and suppliers in the ordinary course for all goods and services provided on or after the filing date.

According to a court filing, the company has three secured creditors: OceanFirst Bank, Marlin Business Services and Mercedes Benz Financial Services. First Lien lender OceanFirst Bank has committed $5.257 million in pre-petition cash collateral financing.

“The combination of reduced Atlantic City visitors and boardwalk foot traffic since 2006, the under-performance of 2018 summer sales along the New Jersey seashore and the continuing increased cost of business operations has impacted our efforts to remain a profitable business. Over the last several years we have worked very hard to transform our business and cut costs. While these efforts made great strides, the plan was not able to deliver the results the company needed. The process of Chapter 11 will give JCC the ability to strengthen its operations and balance sheet, EBITDA and return to a profitable position. We have already begun to work with creditors, vendors and other business partners to maintain service to our customers,” said Frank J. Glaser, president and CEO of JCC.

Previous Post

Franklin Capital Provides Facilities to Three Companies

Next Post

Kellogg Re-Aligns Resources Around Biggest Opportunities for Growth

Related Posts

News

Middle Market Debt Weekly: C&I Balances Contract for the First Time All Year

August 17, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

Nightpeak Energy Secures $75MM Corporate Credit Facility with Macquarie Group

August 17, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

CB&I Upsizes and Closes $625MM Senior Secured Credit Facility with Bank Syndicate

August 17, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
Deal Announcements

Revman International Secures $87MM from First Citizens Bank

August 17, 2026
Deal Announcements

Hadrian Closes $360MM Revolving Credit Facility with Lender Syndicate

August 17, 2026
Deal Announcements

TWFG Expands Credit Facility to $125MM

August 17, 2026
Next Post

Kellogg Re-Aligns Resources Around Biggest Opportunities for Growth

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

TMA Leading Edge Series with Michael Petrecca – Merchant Cash Advances: An Engine of Distress

TMA Leading Edge Series with Michael Petrecca – Merchant Cash Advances: An Engine of Distress

July 31, 2026

Encina Private Credit Rebrands to Encina Commercial Finance, Expands Enterprise Value Lending Product Suite

July 28, 2026

The MCA ‘Restructuring’ Problem: What’s in a Word?

July 24, 2026

The 200,000-Company Landscape: Where Institutional Capital Still Falls Short in the U.S. Middle Market

August 6, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
    • Resolving MCA Distress
  • Magazine
    • Magazine Issues
    • Nominations
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years