skip to main content

The thing that strikes you the most about Paul, Weiss is the depth of the practice. They just have a large number of senior partners, all of whom are of an outstanding quality.

- Chambers USA, Band 1 for Bankruptcy/Restructuring (Nationwide and NYC) and "Bankruptcy Law Firm of the Year" in 2019

J.Jill Completes Out-of-Court Restructuring

Paul, Weiss advised sponsor Towerbrook Capital Partners in the successful out-of-court restructuring of its portfolio company J.Jill, Inc. Under the restructuring, J.Jill, a nationally recognized women’s apparel brand, restructured more than $230 million of outstanding term loan debt after the company received the support of term loan lenders representing more than 95% of aggregate outstanding claims on September 11. Term loan lenders agreed to extend term loan maturity to May 2024, provided a financial covenant holiday until the fourth quarter of 2021, and waived existing non-compliance with the terms of the company’s credit facilities. TowerBrook and certain co-investors provided the company with a new money junior debt investment of at least $15 million. Despite the ongoing challenges related to the pandemic, the restructuring is expected to provide J.Jill with the flexibility to meet its obligations and continue to execute on its business plan.

The Paul, Weiss team included restructuring partners Jeffrey Saferstein and Elizabeth McColm and counsel Sarah Harnett; corporate partners Thomas de la Bastide, Ariel Deckelbaum and Raphael Russo and counsel Jason Tyler and David Epstein; employee benefits partner Jean McLoughlin; and tax partner David Mayo.

© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP

Privacy Policy