The Deal Pipeline Notes Kelley Drye Team as Counsel to The Limited’s Official Committee of Unsecured Creditors

Partner and chair of the firm James S. Carr, partner Jason R. Adams and special counsel Kristin S. Elliott are mentioned in The Deal Pipeline article, ​“The Limited’s Stalking Horse Boosts Bid, Wins Auction,” as representing the Limited Stores Co. LLC ​‘s official committee of unsecured creditors.  The Limited filed for Chapter 11 protection in January 2017 after closing 250 clothing stores in the U.S.  Limited IP Acquisition, an affiliate of private equity firm, Sycamore Partners, bid to purchase the retailer’s assets for $27.75 million.  If Limited IP had not emerged as the winning bidder, it would have been entitled to a breakup fee equal to 3% of the final purchase price plus up to $500,000 in expense reimbursement, according to court papers.