Practices

Asset Purchasers and Investors

Bluestem Brands

The firm was co-counsel to Cerberus Business Finance in the chapter 11 cases of Bluestem Brands and related affiliated in the U.S. Bankruptcy Court for the District of Delaware filed in March 2020. Bluestem was a leading direct-to-consumer retailer of name-brand, private label, and nonbranded fashion, home, and entertainment merchandise, with approximately $1.6 billion in total merchandise sales annually. Cerberus was a prepetition and DIP lender of Bluestem Brands. The firm assisted in guiding Cerberus through the chapter 11 cases including a sale and successful chapter 11 plan that was confirmed in August 2020.