On June 11, 2017, the Gymboree Corporation (“Gymboree”) filed for protection under chapter 11 of the Bankruptcy Code as the retailer struggled to reorganize its debt. Gymboree ‘s bankruptcy petition indicated that it has 1,000 to 5,000 creditors, assets estimated at $756 million, and liabilities estimated at $1.36 billion. On June 16, 2017, Gymboree filed its Joint Chapter 11 Plan of Reorganization and its Disclosure Statement, less than one week after filing for bankruptcy protection. The Plan proposes no distribution to unsecured creditors.
Ronald Page (http://rpagelaw.com) is a corporate bankruptcy attorney based in Richmond, Virginia available to represent creditors of Gymboree ‘s bankruptcy.
The hearing on the adequacy of Gymboree’s Disclosure Statement is scheduled for July 24, 2017 in the courtroom of Judge Phillips located in the U.S. Bankruptcy Court, U.S. Courthouse, 701 E. Broad St., Room 5100, Richmond, VA 23219.
Upon approval of its Disclosure Statement, Gymboree can schedule a confirmation hearing for its Chapter 11 Plan. If confirmed, Gymboree’s Chapter 11 Plan would govern the rights and responsibilities of Gymboree’s creditors. As proposed, Gymboree’s Chapter 11 Plan would pay nothing to its unsecured creditors.
With offices in Richmond, Virginia, Ronald Page, PLC has extensive experience representing secured and unsecured creditors in bankruptcy proceedings. Please contact Ronald Page, a Richmond Virginia Bankruptcy Attorney (http://rpagelaw.com/), if you need assistance protecting your interests in Gymboree’s bankruptcy.
Ronald Page, PLC
PO Box 73524
Richmond, VA 23235