In re: Things Remembered, Inc., Case No. 19-10234 (KBO)
LRC serves as co-counsel, with Kirkland & Ellis LLP (“K&E”), to Things Remembered, Inc. and its affiliates (collectively, “TRM”). TRM, along with their non-Debtor Canadian affiliate, was the leading retailer of personalized gifts and merchandise in North America. Their retail approach focused on customized gifts for milestone occasions such as weddings, birthdays, holidays, and graduations. When TRM filed for Chapter 11 in the United States Bankruptcy Court for the District of Delaware (the “Chapter 11 Cases”), they were a multi-channel retailer offering their merchandise through their catalog, their e commerce website and approximately 400 stores in shopping malls throughout the United States and Canada. In connection with the Chapter 11 Cases, LRC, in coordination with K&E, advised TRM regarding all issues associated with the Chapter 11 Cases. In addition, LRC, along with TRM’s other professionals, successfully negotiated, marketed and closed on the sale of substantially all of TRM’s assets within thirty (30) days of the bankruptcy filing. Following the closing of sale, LRC formulated and implemented the wind-down strategy and negotiated, documented and prosecuted a plan of liquidation (the “Plan”). In connection with the Plan, LRC resolved numerous issues including, among others, various tax, feasibility and third-party release concerns raised by various parties in interest. Resolution of these issues allowed for a consensual Plan that was approved by the Bankruptcy Court on June 12, 2019 at an uncontested confirmation hearing, just 4 months following the commencement of the bankruptcy cases.
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