Sientra, Inc.

Representation of bankrupt breast implant maker Sientra, Inc. in the District of Delaware. The debtor filed for chapter 11 in February 2024 in the face of declining sales and sought a buyer. The company’s secured debt load was about $73 million; its trade debt and other accounts payable totalled approximately $9 million. The chapter 11 reorganization plan, confirmed in June 2024, provides for a winddown of what is left of the company after $50.5 million worth of asset sales. According to the combined chapter 11 reorganization plan and disclosure statement, Sientra plans to pay off priority claims and general secured claims in full, with prepetition first-lien lenders funding the plan with cash collateral.