Alex and Ani Bankruptcy Case Summary

Filing for chapter 11 protections on Wednesday, June 9, 2021, the Alex and Ani bankruptcy came as a result of a significant revenue drop for the company in 2019 at the hand of operational and supply chain difficulties which created the necessity for a restructuring. In addition to the restructuring, Covid-19 had a major impact on the company’s sales, plus the outbreak came only six months after their consummation of the 2019 restructuring causing major issues for the company. Furthermore, the company has had significant turnover in their C-suite including departures from their CFO, chief technical officer, chief strategy officer, chief digital officer, acting COO, assistant general counsel and more. The Alex and Ani bankruptcy has laid out two paths for a restructuring support agreement with either the sale of all or substantially all of the restructured equity or assets or a stand–alone reorganization.

Read our First Day by Reorg team’s full analysis and case summary of the Alex and Ani bankruptcy by clicking through to the link below. Our team summarizes and analyzes the company’s background / prepetition restructuring efforts, their restructuring support agreement, the bid procedures motion, the cash collateral motion and more in detail: https://reorg.com/case-summary-alex-and-ani-rsa-with-equityholder-lender-lion-capital-provides-for-dual-track-restructuring-marketing-process-rsa-would-settle-disputes-with-founder/