New Delaware Chapter 11 Filing – J&M Sales Inc.
J&M Sales Inc., 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. 18-11801). The Debtors, based in Gardena, California, are a discount retailer of brand name apparel and household items, with 344 stores and over 9,800 employees nationwide. According to the First Day Declaration, the Debtors enter Chapter 11 intending to pursue either a sale or standalone restructuring. The Debtors are seeking approval of a $100 million DIP financing facility to be provided by the Debtors’ pre-petition lenders. Prime Clerk is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.
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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