New Delaware Chapter 11 Filing – Orchids Paper Products Company et al. (Lead Case No. 19-10729)
Orchids Paper Products Company, along with two subsidiaries and affiliates, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10729). Orchid, based in Brentwood, TN, is a national supplier of consumer tissue products (i.e., paper towels, bathroom tissue and paper napkins). A First Day Declaration has not yet been filed. According to a press release issued by Orchid, Orchid enters chapter 11 intending to sell substantially all of its assets to a stalking horse bidder, Orchid Investments LLC, which is indirectly owned by a fund affiliated with Black Diamond Capital Management, L.L.C. and Brant Paper Investment Company LLC. Prime Clerk is the proposed claims and noticing agent. The cases have been assigned to the Honorable Mary F. Walrath.
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