New Delaware Chapter 11 Filing – The Walking Company Holdings
The Walking Company Holdings, a Santa Barbara, CA-based designer, manufacturer and retailer of comfort footwear and casual apparel, has, along with its wholly owned subsidiaries The Walking Company, Big Dog USA, Inc. and FootSmart, Inc., filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10474). According to the First Day Declaration, the Debtors enter Chapter 11 having secured $57.25 million in DIP Financing and $55 million in Exit Financing from Wells Fargo Bank, NA, and intend to seek approval of a prepackaged plan of reorganization. The Debtors seek to have the Confirmation Hearing held on June 12, 2018. The Disclosure Statement can be found here. The Debtors have also moved for the Court to set May 22, 2018, as the bar date for filing pre-petition claims against the estate. Kurtzman Carson Consultants, LLC is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.
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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