New York — The company has also negotiated a commitment for a $20 million debtor-in-possession credit facility with Salus Capital Partners LLC.
Delia’s Inc., the omnichannel retail company that primarily markets to teenage girls, has filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York in White Plains, New York. Delia’s will continue to manage its properties and operate its businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court.
Delia’s has also entered into an agreement with Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC to close its stores, as well as liquidate all merchandise owned by Delia’s and to dispose of certain furnishings, trade fixtures, equipment and improvements to real property.
The company has also negotiated a commitment for a $20 million debtor-in-possession credit facility with Salus Capital Partners LLC, which provides for immediate liquidity to continue operations and to conduct the store closing and going-out-of-business sales while in bankruptcy.