New Delaware Chapter 11 Filing – Hampshire Group Ltd.
Hampshire Group Ltd., a provider of fashion apparel across a range of product categories, channels of distributions and price points, and two of its U.S. subsidiaries have filed voluntary petitions for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No: 16-12634). The petition lists between $10 million and $50 million in both assets and liabilities. According to the debtor’s press release, the company has received a commitment from Salus Capital Partners LLC, its senior secured creditor, for the use of cash collateral to facilitate the orderly wind-down of its licensed business operations. The case has been assigned to the Honorable Laurie S. Silverstein.
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.