The Bon-Ton Stores’s Restructuring

Paul, Weiss is representing Bon-Ton as lead debtors’ counsel.

The U.S. Bankruptcy Court for the District of Delaware approved all of The Bon-Ton Stores’ debtor-in-possession financing, consisting of a $725 million senior secured credit facility and featuring a roll-up of Bon-Ton’s prepetition ABL revolving credit facility. The Bankruptcy Court also approved Bon-Ton’s first-day motions. Collectively, the approvals that Bon-Ton obtained will support its business and enable the company, which operates 256 stores in 23 states, to meet its financial obligations throughout the financial restructuring process.

As previously announced, Bon-Ton and its subsidiaries filed voluntary petitions for a court-supervised financial restructuring under Chapter 11. The company’s stores, e-commerce and mobile platforms under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers nameplates are open and operating as usual.

The Paul, Weiss team included bankruptcy partners Kelley Cornish (Picture) and Elizabeth McColm and counsel Diane Meyers and Claudia Tobler; corporate partners Thomas de la Bastide, David Huntington and Jeffrey Marell and counsel Bruce Gruder and Nathan Sawyer; litigation partner Moses Silverman; tax partner Lindsay Parks; real estate partner Harris Freidus; employee benefits partner Andrew Gaines and counsel Jason Ertel; intellectual property partner Claudine Meredith-Goujon; and environmental counsel William O’Brien.

 

Involved fees earner: Kelley Cornish – Paul Weiss Rifkind Wharton & Garrison; Elizabeth McColm – Paul Weiss Rifkind Wharton & Garrison; Diane Meyers – Paul Weiss Rifkind Wharton & Garrison; Claudia Tobler – Paul Weiss Rifkind Wharton & Garrison; Thomas de la Bastide – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Bruce Gruder – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Nathan Sawyer – Paul Weiss Rifkind Wharton & Garrison; Moses Silverman – Paul Weiss Rifkind Wharton & Garrison; Lindsay Parks – Paul Weiss Rifkind Wharton & Garrison; Harris Freidus – Paul Weiss Rifkind Wharton & Garrison; Andrew Gaines – Paul Weiss Rifkind Wharton & Garrison; Jason Ertel – Paul Weiss Rifkind Wharton & Garrison; Claudine Meredith-Goujon – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: The Bon-Ton Department Stores, Inc.;

 

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Author: Ambrogio Visconti