Filing Alert: Liberated Brands Chapter 11

Liberated Brands LLC, a Costa Mesa, CA-based company operating in the sport, outdoor, and lifestyle apparel industry, filed for Chapter 11 protection on Feb. 2 in the U.S. Bankruptcy Court for the District of Delaware. Liberated Brands filed alongside affiliates Boardriders Retail, LLC, Liberated AX LLC, Liberated Brands International, Inc., Liberated Brands USA LLC, Liberated-Spyder LLC, Volcom Retail Outlets, LLC, Volcom Retail, LLC, and Volcom, LLC.

The company reports $100 million to $500 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-10168.

Top Unsecured Claims

Key Parties

• Counsel:
  • Firm: Kirkland & Ellis LLP / Kirkland & Ellis International LLP
• Co-Counsel:
  • Name: Domenic E. Pacitti
  • Firm: Klehr Harrison Harvey Branzburg LLP
  • Email: dpacitti@klehr.com
• Financial Advisor:
  • Firm: AlixPartners, LLC
• Signatories:
  • Todd Hymel – Chief Executive Officer
  • Charles S. Exon III – Secretary
• Equity Security Holders:
  • HLB Group Holdings LLC (51%)
  • ABG Intermediate Holdings 2 LLC (19.9%)
  • Hymel Family Trust (19.6%)
  • Holman Family Trust (6.0%)
  • Immegart Family Trust (2.8%)
  • Fessler Family Trust (0.7%)

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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