September 2, 2015
Kelley Drye is featured in the Law360 article, “USA Discounters' Unsecured Creditors Hire Kelley Drye” as counsel to the unsecured creditors’ committee of the jewelry and appliance retailer, USA Discounters Ltd., in its chapter 11 bankruptcy. The firm was selected among a number of others to advise the unsecured creditors whose claims in the suit add up to approximately $2.6 million. USA Discounters filed for bankruptcy on August 24th, citing a slowdown in its $114 million of outstanding receivables. In addition, revenues and earnings fell about 10 percent last fiscal year and the projected decline this fiscal year is 20 percent.
Partners Eric R. Wilson and Jason R. Adams are representing the unsecured creditors’ committee.
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