New Chapter 11 Filing – FB Debt Financing Guarantor, LLC

On January 11, 2023, FB Debt Financing Guarantor, LLC (“Parent Debtor”) and certain direct and indirect subsidiaries (collectively, the “Debtors”) filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware (Case No. 23-10025).  The Debtors, together with their non-Debtor subsidiaries (the “Company”), are a builder of beauty brands anchored in innovative and high-quality products, marketing and operations.  The Debtors report $500 million to $1 billion in both assets and liabilities.  According to the first day declaration, after nearly four months of exploring their restructuring options, a strategic committee of independent directors at Parent Debtor determined that the Debtors are not able to execute an out of court restructuring there therefore commenced these chapter 11 cases to consummate a sale of substantially all of the Debtors’ business to a stalking horse bidder, an entity organized and controlled by the controlling collateral agent and the DIP Agent, subject to higher or otherwise better bids.

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. Cole Schotz’s nationally renowned Bankruptcy & Corporate Restructuring group practices in Delaware, Maryland, New Jersey, New York, and Texas.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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