New Delaware Chapter 11 Filing – Aerogroup International, Inc.
Aerogroup International, Inc., along with five 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. 17-11962). Based in Edison, NJ, the Debtors comprise a women’s footwear brand which whose products are retailed through various channels, including 78 Debtor-owned stores and the Debtors’ e-commerce platform. The Petition reports $50 million to $100 million in assets and $100 million to $500 million in liabilities. According to the First Day Declaration, the Debtors intend to liquidate their retail stores and pursue a reorganization or § 363 sale built around their e-commerce and wholesale businesses. The Debtors have engaged Hilco Merchant Resources, LLC as their exclusive liquidating agent for the store closing sales. Prime Clerk, LLC is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin J. Carey.
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