New Delaware Chapter 11 Filing – Vitamin World, Inc.
Vitamin World, Inc., along with eight of its affiliates and subsidiaries, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 17-11933). In the Petition, Vitamin World reports $50 million to $100 million in assets and $10 million to $50 million in liabilities. According to the First Day Declaration, the Debtors’ filings were precipitated by difficulties in transitioning their supply chain and distribution system, and the Debtors have filed with the intent to pursue a balance sheet restructuring and to shed burdensome leases and underperforming retail locations. The Debtors enter Chapter 11 with a proposed DIP Facility provided by their Prepetition Lenders. JND Corporate Restructuring is the proposed claims and noticing agent. The cases have been assigned to the Honorable Kevin J. Carey.
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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