On Tuesday, May 12, 2020, U.S. Bankruptcy Judge Mary F. Walrath of the United States Bankruptcy Court for the District of Delaware approved the Debtors’ plan of reorganization. Sugarfina was a high end candy maker that made alcohol- and coffee-infused candies such as Champagne Bears, Bourbon Bears, Peach Bellini gummies, and Cold Brew Bears, and operated 44 candy boutiques, including 11 shops within shops located in Nordstrom department stores.
Morris James, together with its co-counsel, Shulman, Bastian, Friedman & Bui, represented the luxury candy retailer through the bankruptcy process since the Debtors filed for Chapter 11 relief in September 2019 after its efforts to raise funds to finance its operations failed to secure additional liquidity. Through the bankruptcy cases, the Debtors navigated financing, a sale process and an auction for substantially all of the Debtors’ assets, all of which were contested. Ultimately, the bankruptcy process culminated in the sale of the business as an ongoing enterprise, thereby preserving jobs, and the confirmation of a plan of reorganization by which the Debtors will be able to make a distribution to unsecured creditors.
Sugarfina Inc. was represented by Jeffrey R. Waxman, Eric J. Monzo, and Brya M. Keilson of Morris James LLP and Alan J. Friedman of Shulman, Bastian, Friedman & Bui.
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