New Chapter 11 Filing – Peekay Acquisition, LLC

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Peekay Acquisition, LLC, along with sixteen (16) of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11722).  Headquartered in Auburn, Washington, Peekay is a leading specialty retailer of a broad selection of lingerie, sexual health and wellness products and accessories.  The Debtors estimate their assets between $10 -$50 million and their liabilities between $50 – $100 million.  According to the First Day Declaration, the Peekay enters Chapter 11 seeking a competitive sale process.  Peekay’s Term Lenders have submitted a bid to serve as stalking horse during this sale process.  Rust Consulting/Omni Bankruptcy is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Kevin J. Carey.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

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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