New Delaware Chapter 11 Filing – Brookstone Holdings Corp.
Brookstone Holdings Corp., along with nine subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11780). Headquartered in Merrimack, New Hampshire, Brookstone is a well-known developer and retailer of wellness, entertainment and travel products. Brookstone previously filed for Chapter 11 protection in Delaware on April 3, 2014 (Lead Case No. 14-10752) and sold all of its assets to Sailing Innovation Inc., an acquiring entity formed by a consortium of Chinese investors. According to the First Day Declaration, Brookstone enters Chapter 11 having secured $30 million in DIP Financing from Wells Fargo Bank, NA, and Gordon Brothers Finance Company. The First Day Declaration further explains that Brookstone intends to close unprofitable stores and pursue a sale of substantially all of its remaining assets pursuant to section 363 of the Bankruptcy Code. Omni Management Group is the proposed claims and noticing agent. The cases have been assigned to the Honorable Brendan Linehan Shannon.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.
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