December 8, 2014 – Bankruptcy News
dELiA*s, Inc. (NASDAQ:DLIA), an omni-channel retail company primarily marketing to teenage girls, announced on December 8, 2014 that it, along with certain of its subsidiaries (collectively, the “Company”), has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the
As previously announced on
In connection with the bankruptcy filing, the Company is seeking customary authority from the
In addition, the Company has negotiated a commitment for a
The Company currently anticipates that some recovery will be available to general unsecured creditors in the bankruptcy cases, but does not currently anticipate that any value will be available to holders of the Company’s common and preferred equity, although this will be determined upon the conclusion of the bankruptcy cases.
The Company’s bankruptcy cases are pending in the
dELiA*s, Inc. (NASDAQ:DLIA), an omni-channel retail company primarily marketing to teenage girls, announced on December 5th, 2014 that it entered into an agency agreement with Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC, dated December 4, 2014, to, among other things, liquidate all merchandise owned by the Company and to dispose of certain furnishings, trade fixtures, equipment and improvements to real property with respect to the Company’s stores. Sales of merchandise under the agreement may begin as early as December 5, 2014.
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