New Delaware Chapter 11 Filing – Limited Stores Company, LLC
Limited Stores Company, LLC, along with two of its affiliates, filed voluntary petitions for Chapter 11 relief in the Bankruptcy Court for the District of Delaware earlier this morning (Case No. 17-10124-KJC). The Debtors are a multi-channel retailing company operating under the trade name “The Limited” and specialize in the sale of women’s clothing. According to the First Day Declaration, the Debtors, like a number of retailers in recent years, have faced significant issues such as declining mall traffic and sales because of increased consumer preference for internet based retail. The Debtors enter bankruptcy with dual goals: the orderly wind down of their brick and mortar business and the sale of their intellectual property and e-commerce assets. The Debtors ran a competitive sale process pre-petition and have filed a Motion for Sale of their IP and e-commerce assets to Limited IP Acquisition LLC. Donlin, Recano & Company, Inc. is the proposed claims agent. The cases have been assigned to the Honorable Kevin J. Carey.
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