💥New Chapter 11 Bankruptcy Filing - IG Design Group Americas, Inc.💥
There's fallout from the second JOANN Inc. chapter 11 bankruptcy.
Y’all, we’ve officially got fallout from JOANN Inc.’s (“JOANN”) chapter 22s. On July 3, 2025, Berwick, PA-based* IG Design Group Americas, Inc. (“DGA”) and 21 subsidiaries (collectively, together with DGA, the “debtors” and together with their non-debtor affiliates, the “company”) gave up and filed chapter 11 cases in the Southern District of Texas (Judge Lopez).
Up until ‘round May 30, 2025, the debtors were part of IG Design Group plc ($IGR), “…one of the world’s largest consumer crafting and gift packaging businesses, focused on producing and sourcing gift wrap, Christmas crackers, greeting cards, stationary, hobbies and creative play products.” But on that fateful day, IGR announced the sale of its interests in the cash-flow negative company to non-debtor HUK 168 Limited (“HUK”), a special purpose vehicle created by Hilco Capital Limited (“Hilco”).
And because Hilco’s music is playing, you shouldn’t need to buy any vowels to know where the cases are heading.
