Franchise Group Inc.

Representation of the creditors’ committee of Franchise Group Inc. and its affiliated debtors in the District of Delaware. The debtors are a privately held operator and acquirer of franchised and franchisable businesses including The Vitamin Shoppe, Pet Supplies Plus, American Freight and Buddy’s Home Furnishings; with, as of the bankruptcy filing, 2,200 total retail stores nationwide. The debtors sought to expeditiously sell certain of their assets and confirm a chapter 11 plan. With the firm’s assistance, the creditors’ committee, based on its investigation, sought to obtain standing and authority to pursue estate claims related to the prior take-private transaction of the debtors including avoidance actions,, against prepetition lenders. Through the firm’s vigorous diligence, litigation and negotiation efforts over months, the committee reached a global settlement with the debtors and lenders, reflected in a confirmed chapter 11 reorganization plan. The recoveries for unsecured creditors were maximized under difficult circumstances