New Delaware Chapter 11 Filing – Heritage Home Group LLC, et al.

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Heritage Home Group LLC, along with four subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-11736).  Heritage, based in High Point, North Carolina, was formed in November 2013 by KPS Capital Partners to acquire the assets of Furniture Brands International through a sale under Section 363 of the Bankruptcy Code in Furniture Brands International’s 2013 Chapter 11 filing (Lead Case No. 13-12329).  According to the First Day Declaration, Heritage has filed as a result of strong economic headwinds and declining sales.  Heritage enters Chapter 11 having secured $98 million in Debtor-in-Possession financing from PNC Bank, and intends to sell substantially all of its assets under Section 363 of the Bankruptcy Code.  Kurtzman Carson Consultants in the proposed claims and noticing agent.  The cases have been assigned to the Honorable Christopher S. Sontchi.

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.

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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