Orchard Supply Case Study… A Lesson in the Creative Use of DIP Financing

The intricacies involved in the Orchard Supply bankruptcy provide guidance to debtors and creditors about the need to balance the competing interest of lenders, purchasers and stakeholders when it comes to debtor-in-possession financing.

Orchard Supply Files Chapter 11, Lowe’s Bids for Assets

Lowe’s has entered into an asset purchase agreement with Orchard Supply Hardware, which filed Chapter 11, in a transaction expected to be consummated under a Section 363 subject to an auction and court approval.

Term Loan Lenders Extend Orchard Supply’s Agreement Date

Orchard Supply Hardware said based on discussions with the company’s term loan holders, the previous date to reach an agreement with respect to a transaction to address the company’s capital structure has been extended to June 30, 2013.

Orchard Supply Readies For May 1 Restructuring Deadline

The Wall Street Journal reported that Orchard Supply Hardware Stores has hired restructuring attorneys at DLA Piper and financial advisor FTI consulting as it readies for a term loan restructuring deadline of May 1, 2013.