January 25, 2017
On January 24, 2017, Kelley Drye & Warren LLP was selected as counsel to the Official Committee of Unsecured Creditors of The Limited. On January 17, 2017, the company commenced chapter 11 proceedings in the District of Delaware. The case is pending before the Honorable Kevin J. Carey.
Founded in Ohio in 1963, The Limited was a multi-channel retail company specializing in women’s clothing. At its peak in the late 1990s, The Limited operated approximately 750 stores and e-commerce businesses. Sun Capital Partners acquired a majority stake in The Limited in 2007, and took full ownership in 2010. Prior to entering bankruptcy, The Limited closed its 235 remaining stores, terminated most employees at its corporate headquarters and liquidated its inventory. The company seeks to conclude the liquidation of its business with an expedited sale of its intellectual property and e-commerce platform in bankruptcy.
The Committee includes LF Centennial PTE LTD, LLS Freight, aka Mast Logistics Services, Inc., Tru Fragrance & Beauty LLC, Simon Property Group, Inc. and GGP Limited Partnership.
Kelley Drye is a full service law firm with a nationally recognized bankruptcy practice that regularly represents creditors’ committees and other creditors in complex chapter 11 cases. Kelley Drye’s creditor-oriented practice is involved in virtually every major retail bankruptcy case in the country, and our award winning bankruptcy representations have been recognized by the Turnaround Management Association, the Association for Corporate Growth, the Global M&A Network, the M&A Advisor, and The Deal Pipeline.
The Kelley Drye team in The Limited is led by partners James S. Carr and Jason R. Adams.