GBG USA commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York. WH AQ Holdings and Hilco Brands will serve as the stalking horse bidders in a court-supervised sale process of the company and ReStore Capital is providing $16MM in DIP financing.
Brooks Brothers filed a motion in the United States Bankruptcy Court for the District of Delaware to obtain court approval of an asset purchase agreement with stalking horse bidder SPARC Group.
Shoe retailer Payless voluntarily filed for relief under Chapter 11 of the Bankruptcy Code for the second time in 18 months. Ankura Consulting Group will serve as the company’s restructuring advisor through this additional bankruptcy process.
Ankura Consulting Group appointed Michael Miller as managing director. Based in the firm’s Dallas office, Miller will work within Ankura’s Turnaround & Restructuring group.