New Delaware Chapter 11 Filing – PGHC Holdings, Inc.

Save as PDF

PGHC Holdings, Inc., along with eight affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12537).  Based in Dedham, MA, the Debtors collectively own and operate the Papa Gino’s and DeAngelo’s restaurant chains.  The Petition estimates the Debtors’ liabilities to be between $50-$100 million and that the Debtors’ assets will be insufficient for a distribution to unsecured creditors.  The board resolutions attached to the petition contemplate a sale under section 363 of the Bankruptcy Code and authorize the Debtors’ entry into an asset purchase agreement with WC Purchaser LLC for substantially all of the debtors’ assets.  Epiq Corporate Restructuring, LLC is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Mary F. Walrath.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.

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.

Join Our Mailing List

Stay up to date with the latest insights, events, and more

Check all areas of law you are interested in receiving e-newsletters and alerts about:(Required)
This field is for validation purposes and should be left unchanged.

Our Practices



Our Industries