On April 19, 2015, Frederick’s of Hollywood, Inc., a well-known retailer of women’s lingerie, filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware. In addition to the petition filed by Frederick’s
, petitions were filed by five other related entities. The cases have been assigned to The Honorable Kevin Gross, and are docketed as case no. 15-10836.
William Soncini, the Chief Operating Officer for each of the debtors since July 2014, has filed a declaration in support of the various petitions
. According to the Soncini declaration, the Debtors sell high quality women’s apparel and related products under their proprietary Frederick’s of Hollywood® brand. According to Mr. Soncini, the debtors previously went through a bankruptcy filing between 2000 and 2003. Recently, “in the face of growing liquidity issues and concerns about their ability to continue operating as a publicly listed company and a going concern, the Debtors were taken private by a consortium consisting of HGI Funding, LLC . . . , Tokarz Investments, LLC, TTG Apparel, LLC, Arsenal group, LLC, Fursa Alternatives Strategies LLC and William F. Harley, III, . . . , for an aggregate transaction value of approximately $24.8 million.”