Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Hampshire Group Chapter 11 Petition Filed

Hampshire Group and two affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 16-12634. The Company, which offers fashion apparel, is represented by Michael David Debaecke of Blank Rome. According to a corporate release, the filing was made in order to facilitate the orderly wind-down of their business operations after the Company's board "determined that an orderly liquidation and wind-down of its licensed businesses would be the best way to maximize value" for stakeholders and creditors. The same release attributes the filing to "litigation efforts pursued by one unsecured creditor since July of this year." In conjunction with its Chapter 11 filings, the Company has received a commitment from senior secured creditor Salus Capital Partners to allow the Company to utilize cash collateral in accordance with a mutually agreed upon budget.

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