Filing Alert: Walker Edison Chapter 11
Walker Edison Files Chapter 11 in District of Delaware
Walker Edison Holdco LLC and its debtor affiliates⁽¹⁾, a West Jordan, UT-based furniture company, filed for Chapter 11 protection on Aug. 28 in the U.S. Bankruptcy Court for the District of Delaware.
The company seeks approval of an expedited §363 sale of substantially all operating assets to Twin-Star International for $20 million plus assumed liabilities. The deal is structured to preserve jobs while allowing the estate to continue prosecuting Utah state-court claims against former shareholders. Funding is provided through a $13 million junior DIP from prepetition term lenders, allocating $6 million for operations and $7 million to support the litigation.
Walker Edison Holdco LLC reports $0 to $50 thousand in assets and $100 million to $500 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-11602.
⁽¹⁾ For a complete list of debtor entities, see the Chapter 11 Debtors table.
Chapter 11 Debtors
Top Unsecured Claims
Key Parties
Counsel:
- Robert J. Dehney
- Morris, Nichols, Arsht & Tunnell LLP
- Email: rdehney@morrisnichols.com
Investment Banker:
- Lincoln International LLC
Financial Advisor:
- MACCO Restructuring Group
Signatories:
- Jeffrey P. Werner – Chief Executive Officer
Claims Agent:
Equity Security Holders:
- Owl Rock Capital Corporation – 60.0% Equity Interest
- Pennant Park – 18.3% Equity Interest
- Bain Capital Credit LP – 16.7% Equity Interest
- Evolution Credit Partners – 5.0% Equity Interest
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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