Central Security Group, Inc. — Represented Central Security Group, Inc., one of the nation’s largest providers of home and business security and automation, in an out-of-court debt-for-equity exchange that significantly improved the Company’s overall capital structure, eliminating approximately $250 million (more than 50%) of the Company’s funded debt and including a new $25 million revolving credit facility commitment. The out-of-court transaction was executed after the Company successfully solicited support from 100% of its first lien and second lien lenders.
RGN-Group Holdings, LLC — Representing RGN-Group Holdings, LLC, and approximately 100 other debtor affiliates (Regus) in their Chapter 11 cases filed in the Bankruptcy Court for the District of Delaware. Regus offers a network of on-demand office and co-working spaces, and ancillary service and support, to a variety of clients across a host of industries in over 1,000 locations in the United States and Canada.
Represented a private agriculture company in connection with its out-of-court restructuring, including a $200 million convertible preferred equity investment and $100 million unsecured debt investment from a consortium of investors and a concurrent refinancing of its existing first lien credit facility.
California Pizza Kitchen, Inc. — Representing California Pizza Kitchen, Inc. and its affiliates in their prearranged Chapter 11 restructuring in the United States Bankruptcy Court for the Southern District of Texas. CPK is an iconic brand that specializes in California-style pizza with over 200 locations in the U.S. and internationally. CPK’s prearranged plan of reorganization carries broad stakeholder support and contemplates the equitization of the lion’s share of its first lien debt. CPK is seeking to emerge from Chapter 11 in Fall 2020.
APC Automotive Technologies Intermediate Holdings, LLC — Representing APC Automotive Technologies Intermediate Holdings, LLC and its affiliates in their Chapter 11 cases in the U.S. Bankruptcy Court for the District of Delaware. APC is a leading supplier of undercar replacement parts in the automotive aftermarket and the only true full-line underbody supplier for brake, chassis, and exhaust replacement parts. Following entry into a restructuring support agreement with its key stakeholders, APC commenced its Chapter 11 cases with a prepackaged plan of reorganization that will reduce its more than $430 million in indebtedness by $290 million by exchanging its term loan debt for equity.
Neiman Marcus Group LTD LLC — Represented Neiman Marcus Group LTD LLC and affiliates in their pre-arranged Chapter 11 cases. The Company successfully completed its restructuring of over $5.5 billion of funded indebtedness in under five months. The restructuring plan was confirmed in September 2020, eliminated more than $4 billion of debt and more than $200 million of annual cash interest expense, and preserved more than 13,000 jobs. Neiman Marcus is the first retailer with over $5 billion of debt to reorganize under Chapter 11.
Destination Maternity Corporation — Representing Destination Maternity Corporation and certain of its affiliates, the largest national omni-channel maternity apparel retailer, in their Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware. As of filing, Destination Maternity operated approximately 436 stores in the U.S. and Canada, 423 leased departments in big-box retailer stores, ten international franchise locations, and three e-commerce sites in the U.S. and Canada. The existing lenders in the Chapter 11 cases agreed to provide the company access to liquidity to fund the Chapter 11 cases and support the ongoing marketing process, which contemplates consummating a sale transaction before the end of 2019.
