New Chapter 11 Filing – ABC Carpet
On September 8, 2021, A.B.C. Carpet Co., Inc., dba ABC Carpet & Home, along with two affiliates, filed a petition under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Lead Case No. 21-11591). ABC Carpet & Home is a New York City-based luxury furniture retailer. The company estimates $10 to $50 million in assets and $50 to $100 million in liabilities. As further detailed in the DIP Motion, the Debtors “have determined in their business judgment, after exploring various strategic options, that a sale of substantially all of their assets as a going-concern is in the best interests of their creditors and estates.” The Debtors are seeking approval of $5.7 million in DIP financing from 888 Capital Partners LLC, their senior prepetition lender and stalking horse bidder.
Cole Schotz does not represent the Debtors in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtors’ counsel.
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