Chief Restructuring Officer and Plan Administrator
- Financial Restructuring
- Wind Down Management
- Oversee wind down of estate
- Realize value of estate assets
- Distribute net cash proceeds to creditors
- Administer the Plan of Reorganization
Aéropostale, Inc. is a retailer of teen apparel that filed for Chapter 11 Bankruptcy in May 2016 in the Southern District of New York. At that time, Aéropostale had over 600 retail stores as well as ecommerce and brand licensing. Substantially all of the business was sold in September 2016 to a newly formed entity that continued with in excess of 500 retail store locations. Shortly after the sale, DSI was appointed as Chief Restructuring Officer to oversee the orderly wind down of the estate.
DSI has been responsible for realizing the remaining assets of the estate including final purchase price reconciliations, collection of license receivables, collection of litigation proceeds, and refunds of various deposits.
DSI was appointed as Plan Administrator of a plan of reorganization that provides for the payment of all administrative and priority claims in full and the balance of net proceeds to the term loan lenders. To date, the term loan lenders have been paid over $135 million.