LRC served as sole counsel to Saladworks, LLC (“Saladworks”) in its chapter 11 proceedings in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). Saladworks is the nation’s first and largest fresh-salad franchise concept. With franchise locations concentrated primarily in the Mid-Atlantic region, the Company has over 100 operation franchised restaurants throughout the U.S. and Internationally, including in the Middle East, Southeast Asia and Canada. LRC advised Saladworks in all aspects of its restructuring, including designing and implementing a comprehensive sale process which resulted in the sale of substantially all of its assets to an acquisition vehicle created by Centre Lane Partners. The sale was approved by the Bankruptcy Court in May 2015 and closed in June 2015. LRC also negotiated, drafted and prosecuted a contested plan of liquidation (the “Plan”). After weeks of confirmation-related litigation and intensive negotiations, LRC negotiated a fully consensual plan of liquidation (the “Amended Plan”). The Amended Plan was confirmed by the Bankruptcy Court on October 30, 2015.
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