Gymboree Files for Chapter 22 and Plans to Liquidate

On January 16, 2019, Gymboree Group, Inc. and 10 affiliated debtors (collectively, “Debtors” or “Gymboree”) filed chapter 11 in the United States Bankruptcy Court for the Eastern District of Virginia (Richmond Division).  On January 17, 2019, Gymboree, Inc. commenced a parallel proceeding in Canada under subsection 50.4(a) of the Bankruptcy and Insolvency Act (Canada). The Debtors […]

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Houston-Based Parker Drilling Company Files Pre-Negotiated Bankruptcy

On December 12, 2018, Parker Drilling Company and its subsidiaries (“Debtors”), oilfield service companies headquartered in Houston, filed pre-negotiated chapter 11 cases in the United Stated Bankruptcy Court for the Southern District of Texas.  The Honorable Marvin Isgur is presiding over the cases. The Companies operate in two lines of businesses: (a) drilling services (i.e., oil, natural […]

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USA Gymnastics Files Bankruptcy

On Wednesday, December 5, 2018, USA Gymnastics (USGA) filed for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Indiana (Case No. 18-09108). USGA is the national governing body for gymnastics in the United States. It receive this designation from the U.S. Olympic Committee (USOC) and the International Gymnastics Federation. […]

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Senior Care Centers, LLC and Subsidiaries File Bankruptcy in N.D.T.X.

On December 5, 2018, Senior Care Centers, LLC and 120 subsidiaries (collectively, the “Debtors”) filed for chapter 11 relief in the United States Bankruptcy Court for the Northern District of Texas. The Debtors are one of the largest providers of skilled nursing services in the country, providing care on a daily basis to approximately 9,000 […]

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Energy: Samson Resources’ Prenegotiated Reorganization Plan with Fulcrum Debt

As predicted at the Commercial Finance Association’s Fourth Annual Energy Summit on September 16th, we should start seeing more and more oil & gas companies struggle to survive in the wake of continued low commodity pricing.  While we witnessed some rebound in pricing towards the end of the summer, the price of oil again dipped […]

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Retailer of Luxury Gadgets Files Prenegotiated Chapter 11

On April 3, 2014, Brookstone Holdings Corporation and its affiliates (“Brookstone” or “Company”), developers and sellers of unique and high quality household products, filed a prenegotiated chapter 11 bankruptcy in Delaware.  See In re Brookstone Holdings Corporation, Case No. 14-10752 (Bankr. D. Del.).  But, don’t worry.  The seller of $4,000 massage chairs does not appear to be going […]

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