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
Consumer Products, Retail & Apparel
Our restructuring department fields large, multidisciplinary teams that leverage the resources of our firm as a whole. We act on all sides of cutting-edge restructuring transactions across a range of industries.
J.Jill's Out-of-Court Restructuring
TowerBrook Capital Partners in an out-of-court restructuring of more than $230 million of outstanding term loan debt of its portfolio company J.Jill, a nationally recognized women’s apparel brand.
GNC Holdings' Prearranged Chapter 11
An ad hoc group of FILO term loan lenders in the prearranged chapter 11 cases of GNC Holdings, a leading global specialty retailer of health and wellness products.
J. Crew's Prearranged Chapter 11 Case
TPG Partners in the prearranged chapter 11 proceedings of its portfolio company, J.Crew Group, an internationally recognized omni-channel retailer of women's, men's and children's apparel, shoes and accessories. The plan provided for, among other items, the equitization of approximately $1.65 billion of secured debt.
Neiman Marcus’ Restructuring
An ad hoc committee of noteholders of Neiman Marcus, one of the world’s largest omni-channel luxury fashion retailers, in (a) a recapitalization transaction involving the exchange of unsecured notes into a new series of third lien notes and preferred equity in MyTheresa, a German luxury online retailer, and the issuance of new second lien notes and (b) the company’s subsequent prearranged chapter 11 case.
David's Bridal Out-of-Court Restructuring
David’s Bridal, the nation’s leading bridal and special occasion retailer, in an out-of-court recapitalization transaction which provided for $55 million of new capital from existing lenders and the exchange of more than $275 million in existing term loan debt into new preferred and common equity securities.
TOMS Shoes Out-of-Court Restructuring
The term loan lenders of TOMS Shoes, a maker of casual footwear with a unique gifting mission, in the company’s out-of-court restructuring which resulted in the term loan lenders owning 100 percent of the equity of TOMS on account of (a) the conversion of $300 million of secured term debt into equity and takeback debt in TOMS and (b) a new money investment.
Sears’ Chapter 11 Cases
The Restructuring Sub-Committee of the Board of Directors of Sears Holdings Corporation, a leading retailer in the appliance, tool, lawn and garden, fitness equipment, automotive repair and maintenance retail sectors, in the company’s chapter 11 cases, including the investigation of potential claims and causes of action in connection with related party transactions and the court-approved $5.2 billion sale of assets.
FULLBEAUTY’s Prepackaged Chapter 11 Case
An ad hoc group of prepetition second lien lenders in the chapter 11 cases of FULLBEAUTY Brands Holdings Corp. and certain affiliates, which restructured more than $1.2 billion of prepetition debt through a prepackaged plan of reorganization that was approved by the United States Bankruptcy Court for the Southern District of New York less than 24 hours after the company filed for chapter 11 protection.
Gibson Brand’s Prenegotiated Chapter 11 Case
An ad hoc committee of senior secured noteholders of Gibson Brands, an iconic American manufacturer of guitars, other musical instruments and professional audio equipment, in the company’s prenegotiated chapter 11 case, including the negotiation of a prepetition restructuring support agreement and the provision of $135 million of debtor-in-possession financing. This matter was recognized by The Turnaround Management Association as the “Mid-Size Company Transaction of the Year.”
Performance Sports Group’s Cross-border Bankruptcy Cases
Performance Sports Group, a leading developer and manufacturer of sports equipment and apparel with products marketed under the BAUER, MISSION, MAVERIK and EASTON brand names, among others, as U.S. counsel in its complex U.S. and Canadian bankruptcy cases, including the going concern sale of its business to leading Canadian private investment firm. This matter was recognized by The M&A Advisor as the “Restructuring of the Year ($500MM-$1B)” and by The Turnaround Management Association as the "Transaction of the Year: Large Company."