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Destination Maternity Corporation   https://cases.primeclerk.com/DestinationMaternity/Home-DocketInfo

Case No. 19-12256  06/29/2020

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The nation’s largest retailer of maternity wear has filed for Chapter 11 bankruptcy protection amid sagging sales, increased competition and changing customer tastes. 

Destination Maternity listed $260.2 million in assets and $240 million in debts in its filing with the U.S. Bankruptcy Court in Delaware.
The company, which in August announced it was reviewing strategic alternatives,
including a possible sale, said the process has “already yielded indications of interest from several credible bidders.”  

To fund its operations during the Chapter 11 process, Destination Maternity obtained consent to use cash collateral from all of its prepetition secured lenders.
In connection with the agreement, binding bids for the company must be submitted by December 5, 2019, with an auction to be held on December 9, 2019.
The bankruptcy court must approve the sale by December 12, 2019. 

Destination Maternity said it intends to use the Chapter 11 process to optimize operations, including right-sizing its brick-and-mortar store footprint.  

“In a challenging retail environment, we have had to make some very tough choices, but we are confident that the steps taken today provide an opportunity
to continue a marketing process that provides the most efficient means of maximizing value to our stakeholders,” said Lisa Gavales, chair of the Office of the CEO,
which was created in June to oversee the chain during its search for a CEO.
“Throughout this process we will be focused on developing the promising interest already shown by potential bidders, and maintaining operational momentum toward a stronger business.”

As of August 3, 2019, Destination Maternity operated 446 stores in the U.S., Canada and Puerto Rico under three banners: Motherhood Maternity,
A Pea in the Pod and Destination Maternity, along with 491 leased departments in department stores and baby specialty stores throughout the U.S. and Canada.
It also operates international stores via franchising.  Net sales for the first six months of fiscal 2019 decreased 10.3% to $179.1 million.  
It reported a net loss of $14.3 million in fiscal 2018. 
Kirkland & Ellis LLP is acting as the company’s legal counsel, Greenhill & Co is acting as investment
banker and Berkeley Research Group is serving as Destination Maternity’s restructuring advisor. BRG’s Robert J. Duffy has been appointed as the company’s chief restructuring officer.



Nov. 30, 2019 8:04 pm ET
Bankrupt retailer Destination Maternity Corp. will shut down its remaining 235 retail stores under a deal
that would see a licensing firm buy the company’s brand name and other assets for $50 million.

A licensing platform backed by Neuberger Berman Group LLC has agreed to acquire the e-commerce business,
brand name and intellectual property of bankrupt retailer, according to a filing in U.S. Bankruptcy Court in Wilmington, Del.




Destination Maternity Corporation

Case No. 19-12256

 

 

Affidavit/Declaration of Mailing of Andrew G. Vignali Regarding Second Interim Fee Application of Landis Rath & Cobb LLP and Notie of Hearing!. Filed by Prime Clerk LLC. (related document(s)888, 890)

Attachments:
Related: 890email
06/27/2020
909

Application for Compensation (Seventh) of Landis Rath & Cobb LLP for the period May 1, 2020 to May 31, 2020 Filed by Destination Maternity Corporation. Objections due by 7/17/2020. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Exhibit C # 5 Certification of Kerri K. Mumford)

Attachments:
Related:email
06/26/2020
908

Motion for Payment of Administrative Expenses/Claims Filed by Invata, Inc.. Hearing scheduled for 7/22/2020 at 10:30 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Objections due by 7/13/2020. (Attachments: # 1 Exhibit 1 # 2 Exhibit 2 # 3 Exhibit 3, Order)

Attachments: 123
Related:email
06/26/2020
907

Motion to Appear pro hac vice OF WILLIAM M. BUCHANAN. Receipt Number 3020943, Filed by Invata, Inc..

Attachments:
Related:email
06/26/2020
906

Motion to Appear pro hac vice OF GILDA M. ARROYO. Receipt Number 3020943, Filed by Invata, Inc..

Attachments:
Related:email
06/26/2020
905

Affidavit/Declaration of Mailing of Andrew G. Vignali Regarding Twenty-Seventh Notice of Rejection of Certain Executory Contracts and/or Unexpired Leases and Fifth Monthly Fee Statement of Kirkland & Ellis LLP and Kirkland & Ellis International LLP for Allowance of an Administrative Claim for Compensation and Reimbursement of Expenses Incurred from March 1, 2020 through April 30, 2020!. Filed by Prime Clerk LLC. (related document(s)896, 897)

Attachments:
Related: 896email
06/25/2020
904

Notice of Appearance. Filed by Invata, Inc..

Attachments:
Related:email
06/25/2020
903

Affidavit/Declaration of Mailing of Jamie B. Herszaft Regarding Order Approving the Rejection of Contracts and Unexpired Leases and Abandonment of Property in Connection Therewith. Filed by Prime Clerk LLC. (related document(s)891)

Attachments:
Related: 891email
06/25/2020
902

Objection of Delta Galil USA Inc. to Motion of the Debtors for Entry of an Order (I) Approving the Settlements Between the Debtors and Certain 503(b)(9) Claimants and (II) Authorizing the Debtors to Distribute the Trade Claim Reserve (related document(s)878, 879) Filed by Delta Galil USA Inc. (Attachments: # 1 Certificate of Service)

Attachments: 1
Related: 879email
06/25/2020
901

Application for Compensation (Second Interim) of Kirkland & Ellis LLP and Kirkland & Ellis International LLP for the period February 1, 2020 to April 30, 2020 (related document(s)780, 897) Filed by Destination Maternity Corporation. Hearing scheduled for 7/22/2020 at 10:30 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Objections due by 7/15/2020. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Exhibit C # 5 Exhibit D # 6 Exhibit E # 7 Exhibit F # 8 Exhibit G)

Attachments:
Related:email
06/24/2020
900

Interim Application for Compensation / Second Interim Fee Application of Cole Schotz P.C., Delaware and Conflicts Counsel to the Official Committee of Unsecured Creditors, for Allowance of Compensation and Reimbursement of Expenses for the period from February 1, 2020 to April 30, 2020 Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS. Hearing scheduled for 7/22/2020 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Objections due by 7/14/2020. (Attachments: # 1 Notice)

Attachments: 1
Related:email
06/23/2020
899

Interim Application for Compensation / Second Interim Fee Application for Compensation and Reimbursement of Expenses of Province, Inc., as Financial Advisor to the Official Committee of Unsecured Creditors, for Allowance of Compensation and Reimbursement of Expenses for the period from February 1, 2020 to April 30, 2020 Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS. Hearing scheduled for 7/22/2020 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Objections due by 7/14/2020. (Attachments: # 1 Exhibit A # 2 Notice)

Attachments: 12
Related:email
06/23/2020
898

Certificate of No Objection - No Order Required Regarding Third Monthly Application for Compensation and Reimbursement of Expenses of Province, Inc., as Financial Advisor to the Official Committee of Unsecured Creditors, for the period February 1, 2020 through February 29, 2020 (related document(s)774) Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS.

Attachments:
Related: 774email
06/23/2020
897

Application for Compensation (Fifth Monthly) of Kirkland & Ellis LLP and Kirkland & Ellis International LLP for the period March 1, 2020 to April 30, 2020 Filed by Destination Maternity Corporation. Objections due by 7/13/2020. (Attachments: # 1 Notice # 2 Exhibit A # 3 Exhibit B # 4 Exhibit C # 5 Verification of Christopher T. Greco, P.C.) (Cree, Jennifer) (Entered: 06/22/2020)

Attachments:
Related:email
06/22/2020
896

Notice of Rejection of Lease/Executory Contract (Twenty-Seventh Notice of Rejection of Certain Executory Contracts and/or Unexpired Leases) (related document(s)23, 285). Filed by Destination Maternity Corporation.

Attachments:
Related: 23285email
06/22/2020
895

Certificate of No Objection - No Order Required Regarding Sixth Monthly Application of Landis Rath & Cobb LLP for the period April 1, 2020 to April 30, 2020 (related document(s)861) Filed by Destination Maternity Corporation.

Attachments:
Related:email
06/22/2020
894

Certificate of No Objection - No Order Required Regarding Fifth Monthly Fee Application of Cole Schotz P.C., Delaware and Conflicts Counsel to the Official Committee of Unsecured Creditors, for Allowance of Compensation and Reimbursement of Expenses for the period from April 1, 2020 through April 30, 2020 (related document(s)856) Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS.

Attachments:
Related: 856email
06/22/2020
893

Certificate of No Objection - No Order Required Regarding Combined Fifth Monthly and Second Interim Application of Cooley LLP, Lead Counsel to the Official Committee of Unsecured Creditors of Destination Maternity Corporation, et al. for Compensation and Reimbursement of Expenses for the (I) Monthly Period of April 1, 2020 Through April 30, 2020 and (II) Interim for the period of February 1, 2020 to April 30, 2020 (related document(s)855) Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS.

Attachments:
Related: 855email
06/22/2020
892

Certificate of No Objection - No Order Required Regarding Fifth Monthly Application for Compensation and Reimbursement of Expenses of Province, Inc., as Financial Advisor to the Official Committee of Unsecured Creditors, for the period from April 1, 2020 through April 30, 2020 (related document(s)854) Filed by OFFICIAL COMMITTEE OF UNSECURED CREDITORS.

Attachments:
Related: 854email
06/22/2020
891

Order Approving Twenty-Fifth Notice of Rejection of Certain Executory Contracts and/or Unexpired Leases (related document(s)285, 852, 889) Order Signed on 6/18/2020. (Attachments: # 1 Exhibit A)

Attachments: 1
Related: 285852889




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PostSubject
#1417  Sticky Note Maybe the weak sellers are out of shares? Bring-n da Copper 02/18/21 12:58:43 PM
#1446   Thanks for your explanation, the funny thing is pennystock_es 03/08/21 11:33:09 AM
#1445   lets go $DESTQ Good news? today was the pennystock_es 03/08/21 10:05:24 AM
#1444   I have picked up around 100k shares average Yukii 03/03/21 12:33:16 PM
#1443   Time to load the boat Harbor6460 03/03/21 12:13:02 PM
#1442   Hi chemist72 thanks for the explanation that answers Yukii 03/02/21 12:10:23 PM
#1441   Let me try to explain as best I can. chemist72 03/02/21 11:32:33 AM
#1440   OMNIBUS HEARING CANCELLED. There were no issues needing Yukii 03/02/21 09:27:11 AM
#1439   OMNIBUS HEARING CANCELLED. There were no issues needing discussion. chemist72 03/01/21 08:24:43 PM
#1438   What you describe happens quite frequently with low chemist72 02/26/21 09:18:28 AM
#1437   With so many shares printing above .03 lately, propert 02/25/21 08:05:17 PM
#1436   There's an Omnibus Hearing scheduled for 3/3/21. chemist72 02/25/21 01:32:03 PM
#1435   Nice buying today. From $.027 to $.0399 chemist72 02/25/21 01:27:52 PM
#1434   what happens in $DESTQ ? Does someone update pennystock_es 02/24/21 03:38:12 PM
#1433   thanks Chemist72, corvatsch 02/24/21 02:41:36 PM
#1432   DESTQ cash down to $1.6M - chemist72 02/24/21 01:01:31 PM
#1431   As for the talk of shorts covering, that's propert 02/23/21 09:57:06 AM
#1430   I know the short position in destq. macdwatcher1 02/22/21 06:01:08 PM
#1429   symbol change coming my guess MRQE Kazorchian 02/22/21 08:58:14 AM
#1428   Thanks. Figured it was probably small. chemist72 02/22/21 08:13:44 AM
#1427   It's minuscule, 16,700 shares short. stoman23 02/21/21 08:51:13 PM
#1426   I have no idea what the short position is. chemist72 02/21/21 08:33:36 PM
#1425   Ohhhhh yesss. There is still very large macdwatcher1 02/21/21 07:56:30 PM
#1424   with the NOLS we have DESTQ will be Kazorchian 02/21/21 07:14:11 PM
#1423   Actually depends more on what's in the POR* chemist72 02/21/21 07:04:51 PM
#1422   https://www.youtube.com/watch?v=ncbEucjsNFU&t=27s No negative waves man!!!! Kazorchian 02/21/21 06:19:08 PM
#1421   You are lucky your shares were not cancellled macdwatcher1 02/21/21 05:55:08 PM
#1420   Destination Maternit (DESTQ) mick 02/21/21 02:41:20 PM
#1419   When the entire order book below $0.07 costs propert 02/18/21 05:40:23 PM
#1418   THE SHORTS OF DESTQ? pennystock_es 02/18/21 03:52:33 PM
#1417   Maybe the weak sellers are out of shares? Bring-n da Copper 02/18/21 12:58:43 PM
#1416   ASK $DESTQ 0,0624 ¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡ pennystock_es 02/18/21 12:47:46 PM
#1415   Fat finger? Only 1,000 shares but I was propert 02/17/21 01:19:27 PM
#1414   Something's going on with the Omnibus Hearing scheduled chemist72 02/16/21 10:56:13 AM
#1413   there is something boiling ... corvatsch 02/16/21 10:13:25 AM
#1412   Now 100% spread. Bid $.01 - Ask $.02 chemist72 02/16/21 10:09:46 AM
#1411   WTF is that all about?? chemist72 02/16/21 09:57:03 AM
#1410   Ask @.0625 on E*TRADE! Bring-n da Copper 02/16/21 09:51:28 AM
#1409   This says that some businesses in chapter 11 Estera 02/15/21 07:22:11 PM
#1408   LOL, what a company we have here? The Value_Investor 02/15/21 06:40:17 PM
#1407   So sad. DESTQ asking for another deadline extension. chemist72 02/15/21 01:45:58 PM
#1406   Thanks so much estera really appreciate it Yukii 02/15/21 11:48:18 AM
#1405   Looks to me like they filed plan of Estera 02/15/21 11:44:14 AM
#1404   Hey estera I’m just a simpleton I tried Yukii 02/15/21 11:35:55 AM
#1403   This was filed on Thursday then price went Estera 02/15/21 08:14:29 AM
#1402   https://cases.primeclerk.com/DestinationMaternity/Home-DownloadPDF?id1=MTg0MDUxN Estera 02/15/21 08:10:56 AM
#1401   Destination Maternit (DESTQ) mick 02/14/21 06:36:05 AM
#1400   cheap The Night Stalker 02/13/21 05:49:05 PM
#1399   Hope DESTQ files POR MONDAY, when market is closed. chemist72 02/12/21 09:05:59 AM
#1398   I use to wear these when I was wedman 02/11/21 04:42:16 PM
#1397   Y’all don’t mess with pregnant women and their clothes Estera 02/11/21 02:41:06 PM
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