New Delaware Chapter 11 Filing-Model Reorg Acquisition, LLC

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Model Reorg Acquisition, LLC, along with eighteen of its subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11794).  The Debtors, based in Belleport, NY, collectively comprise the largest specialty retailer and distributor of fragrances and related beauty products in the United States and primarily operate under the brand “Perfumania.”  According to a press release issued by Perfumania Holdings, Inc. (NASDAQ: PERF), the Debtors plan to undergo a recapitalization through the Chapter 11 process and emerge as a privately-held company.  The First Day Declaration explains that the Debtors enter Chapter 11 with a prepackaged plan of reorganization and debtor in possession financing.  Epiq Bankruptcy Solutions is the proposed claims and noticing agent.  The case has been assigned to the Honorable Christopher S. Sontchi.

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.

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