New Chapter 11 Filing - Marbles Holdings LLC

Marbles Holdings LLC

  • 2/6/17 Recap: The Chicago-based brainiacs behind the specialty retailer that sells games, puzzles, books and software apparently weren't smart enough to run a sustainable business. Consequently, Marbles Holdings filed a Chapter 11 to find a buyer for certain assets and liquidate the remainder. A proposed sale of IP and a wind-down of the 37 mall-based locations (including one in the ultimate "tourist mall," the World Trade Center, and many others in the, cough, "A Malls" owned by Westfield, Simon Properties, and General Growth Properties) and six in-store concept stores within Macy's will be funded pursuant to a $900k DIP. Choice quote in the first day declaration, "It is likely that other retailers may commence chapter 11 cases in the near term." Ominous. 
  • Jurisdiction: N.D. of Illinois
  • Capital Structure: ~$17.5mm secured debt (Amzak Capital Management, AMPR Marbles Investors LLC)
  • Company Professionals:
    • Legal: Adelman & Gettleman LLP (Howard Adelman, Henry Merens, Erich Buck, Alexander Brougham)
    • Liquidator: Gordon Brothers Retail Partners LLC
    • Investment Banker: Hilco IP Services LLC d/b/a Hilco Streamback
    • Claims Agent: Garden City Group LLC
  • Other Parties in Interest
    • Amzak Capital Management
      • Legal: Holland & Knight LLP (Barbra Parlin)

Updated 2/10/17