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Article Date: April 2024
Word Count: 303

Shoes For Crews Files for Prepackaged Bankruptcy

Never Slip Holdings, the parent of workwear supplier Shoes For Crews and a number of related companies, filed for Ch. 11 protection in DE federal bankruptcy court in preparation for an asset sale to its first-lien lenders. The filing estimates assets of $100 to $500 million and liabilities of $500 million to $1 billion, including about $480 million of debt obligations. The debtors have lined up a $30 million DIP credit facility to provide operating funds until the sale can be completed. The lenders have stepped up as stalking horse bidders ... Log in to view full article.


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