G+G Retail

Representation of G+G, a national retailer that specialized in young women’s and girls’ clothing and apparel, in its chapter 11 case in the Southern District of New York. G+G had stores and outlets in 48 states, Puerto Rico, and the Virgin Islands, and a distribution center in New Jersey. During the restructuring, the firm obtained court approval for a sale of substantially all of the company’s assets as a going concern and approval of a plan approximately 11 months after the petition date. Creditor recoveries were in the range of 50% on the dollar, which is an outstanding result considering the company was on the verge of administrative insolvency when it filed.