February 17, 2011
Kelley Drye has been retained as counsel to the Official Committee of Unsecured Creditors of Anchor Blue and certain of its debtor affiliates. Based in Corona, California, Anchor Blue operates apparel stores that sell affordable youth-oriented clothing and accessories bearing the Anchor Blue name. Anchor Blue operates approximately 115 stores in nine western and southwestern states, including Arizona, California and Texas.
Anchor Blue filed a petition under chapter 11 of the Bankruptcy Code on January 11, 2011. At the first meeting of creditors on January 19, 2011, the five-member Committee selected Kelley Drye as its bankruptcy counsel.
Anchor Blue entered chapter 11 to liquidate its inventory and shut down operations. Kelley Drye is working with Anchor Blue and its secured lenders to ensure that the liquidation and wind-down is accomplished in an orderly and timely manner, so as to maximize value to unsecured creditors.
The Kelley Drye team is led by partner Eric R. Wilson. The team includes special counsel Benjamin D. Feder and associate Jennifer D. Raviele.