Sycamore Partners acquires bankrupt Coldwater Creek retail brand

Sycamore Partners said Monday that it has bought the Coldwater Creek brand and other intellectual property. No financial terms were disclosed. The firm plans on re-launching Coldwater Creek, a women’s clothing retailer that filed for bankruptcy, as an independent portfolio company.


Green Field sells assets to Gordon Brothers Group

Green Field, an oilfield service firm based in Lafayette, Louisiana, has sold its equipment and inventory assets to Gordon Brothers Group. No financial terms were disclosed. Carl Marks served as an investment banker to Green Field on the transaction. Green Field filed for bankruptcy last October.


EFH Chapter 11 filing as soon as Monday: Reuters

Leading Texas power company Energy Future Holdings is expected to file for bankruptcy as early as Monday evening, sources close to the situation told sister news service Reuters on Friday, as it struggles to pay its hefty debt load of more than $40 billion because of cheap electricity prices.

Specialty retailer Brookstone plans bankruptcy filing – Reuters

Specialty retailer Brookstone Inc is preparing to file for bankruptcy with a plan in place to be bought by another specialty retailer, the Wall Street Journal reported, writes Reuters. Brookstone was taken private in 2005 by a group led by Osim, Asia’s biggest maker of massage chairs, in a $445 million deal. The group included Temasek Holdings and private equity firm JW Childs Associates LP.

Gordon Brothers to liquidate Green Field Energy Services assets

Gordon Brothers Group, a Boston-based advisory, restructuring and investment firm, has received approval by bankruptcy court to sell all assets formerly owned by Green Field Energy Services. A well service provider specializing in turbine-powered hydraulic fracturing services, Green Field filed for bankruptcy on October 27, 2013. The company’s assets are valued at more than $250 million.

VC-backed Plextronics files for bankruptcy, gets $32.6 mln buyout offer – VentureWire

According to VentureWire, Pittsburgh-based Plextronics has filed for bankruptcy. The outlet reported that existing investor Solvay SA has made a $32.6 million buyout offer for the printed electronics developer. Plextronics’s backers include Applied Ventures, Birchmere Ventures , Draper Triangle Ventures, Firelake Capital Management, Innovation Works, Newlin Investment Co. and Solvay North America Investments.

Fidelity hires advisers for Energy Future reshuffle plan – Reuters

Fidelity Investments, a creditor of Energy Future Holdings Corp, has hired advisers to propose a restructuring plan for the Texas utility in the hope of saving it from a protracted bankruptcy, writes Reuters. Fidelity, which has amassed EFH bonds, is working on a proposal it aims to present this month, writes Reuters.

Arcapita emerges from Chapter 11

Arcapita, an investment firm headquartered in Bahrain, has emerged from Chapter 11 reorganization proceedings in the United States. Under the terms of the reorganization, Arcapita (legally referred to as AIM Group Limited) led by the existing management team will continue to manage the Arcapita investment portfolio on behalf of investors and creditors, with the objective of maximizing exit values across the portfolio.

Chances slim for prepackaged bankruptcy for Energy Future – Reuters

Chances are growing slim for Texas utility Energy Future Holdings to negotiate a prepackaged bankruptcy with its creditors that would avoid a lengthy spell in Chapter 11, writes Reuters. The embattled company has been in talks for months with secured lenders, which hold about $20 billion in debt, writes Reuters.

Reuters – Germany’s Praktiker Appoints Macquarie

The insolvency administrators of German DIY store chain Praktiker have stepped up the search for an investor by appointing Macquarie as advisor and asking for bids by September, writes Reuters. Sources told Reuters last week there had already been interest from private equity.

Reuters – Court Orders China’s Ambow into Provisional Liquidation

A court has ordered China’s Ambow Education Holdings Ltd into provisional liquidation, a move that could end months of wrangling between the CEO and external shareholders that include Avenue Capital, Baring Asia and Macquarie, writes Reuters. A court in the Cayman Islands issued the order for New York-listed Ambow, a private schools and career training company, and appointed members of KPMG as the provisional liquidators, according to a June 10 Ambow statement.

Reuters – Energy Future Proposes Prepackaged Bankruptcy

Texas power company Energy Future Holdings, formerly known as TXU Corp, has proposed a prepackaged bankruptcy that would restructure $32 billion of debt, but no deal has been reached, writes Reuters. The company is trying to restructure more than $30 billion in debt it was saddled with after the buyout by a consortium including KKR & Co, TPG Capital Management and Goldman Sachs Group Inc‘s private equity arm, writes Reuters.

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