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About The DailyDAC Editors

The DailyDAC Editors

The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.


Articles by The DailyDAC Editors

Keen-Summit Capital Partners and Summit Investment Management, announced today that they have hired David Levy, a commercial real estate expert, to open their new joint Chicago office, expanding their presence in the Midwest.

Notice of December 30th Bid Deadline in Bankruptcy Auction of In re Innovation Pet, Inc. 1. Case Information. The name of the chapter 11 case is In re: Innovation Pet, Inc., which is pending before Bankruptcy Judge Scott. C. Clarkson as Case No. 8:20-bk-13223-SC in the United States Bankruptcy Court, Central District of California, Santa Clara Division (“Bankruptcy Court”). 2. Company Information. Innovation Pet, Inc. (“IPC”) is a designer and seller of innovative pet products. IPI’s innovative products include items such as chicken coops, dog houses, and duck houses, as well as animal treats and toys. 3. Assets to be Sold. IPC has proposed to sell substantially all of its assets to the highest bidder. The assets to be sold include but are not limited to various trademarks, the Debtor’s customer list, and a small amount of inventory. 4. Bidding Procedures. On 12/3/2020, the Bankruptcy Court entered an order in […]

ISG ANNOUNCES AUCTION OF ASSETS OF SUBSCRIPTION BASED WOMAN’S ACTIVEWEAR BRAND 1. LOI Deadline. December 21st, 2020 at 3:00 pm Pacific Time. 2. Background. Company is a four-year-old subscription-based service in the women’s activewear space. Extensive exclusive technology has been built to service over 80K customers in that time. More than 1MM pieces of activewear have been curated for past and present customers. This curation is accomplished using a machine-learning algorithm. The Company is currently operational with over 15K active members billing on a monthly, semi-monthly and quarterly basis. The Company’s social following includes over 140K followers on Facebook and 70K followers on Instagram. Company has generated over $28MM since inception and is on pace for over $5MM in 2020. Company projects to be EBITA positive for the year. Company anticipates making a General Assignment for the benefit of its creditors in favor of Insolvency Services Group, Inc. prior to the LOI Deadline. […]

NOTICE IS HEREBY GIVEN, that pursuant to Section 9-610 of the Uniform Commercial Code (the “UCC”), as adopted in the State of New York and any other applicable jurisdictions, and any other applicable law, Hilldun Corporation (the “Secured Party”) will offer for sale to the public (the “Auction”) substantially all of the assets of Cushnie, LLC, a New York limited liability company, and Cushnie Trademark, LLC, a Delaware limited liability company (the “Debtors”), including the Debtors’ right, title, and interest in and to all intellectual property (including, without limitation, trademarks, internet domain names, trade names, and customer lists), as well as equipment, fixtures, inventory, and samples (other than leased property) (collectively, the “Assets”). Debtors have granted a security interest in all of the Assets to the Secured Party to secure Debtors’ obligations to the Secured Party. The Assets are being sold on an “AS IS, WHERE IS” basis pursuant to the terms […]

The Robbins Company (“Robbins”) is one of the world’s foremost providers of advanced, underground construction equipment and services, including Tunnel Boring Machines (TBMs) and related equipment such as conveyors and cutters. Robbins’ TBMs and cutters have excavated more hard rock than all of Robbins’ competitors combined. Robbins has built its reputation for nearly 70 years, developing a global brand with rep agreements or subsidiaries in 27 countries, historically generating approximately 90% of revenues outside of the United States. It is believed that Robbins’ EBITDA will average at approximately $3 million per year over the next four years. Robbins was placed in receivership in the Cuyahoga County Court of Common Pleas (Case No. CV-19-921031) (the “Court”) in October 2019. The receivership action was initiated by Lok Home, the President, a large creditor, and a minority shareholder of Robbins, as part of an overall effort to improve Robbins’ liquidity, address corporate governance […]

B. RILEY ANNOUNCES AUCTION OF ASSETS OF RIDGEMONT OUTFITTERS, INC. 1. Offer Deadline. December 1st, 2020 at 5:00 pm Pacific Time. 2. NDA Deadline. November 10th, 2020. 3. Background. Ridgemont Outfitters was created to fill a void in the footwear market – the space between casual footwear and hiking boots. It’s offerings strike the perfect balance between shoes rugged enough for scaling the highest peaks and footwear that maintains a stylish look in an urban setting. Ridgemont’s footwear features it all without sacrificing style, comfort, or grip. Ridgemont boasts a variety of footwear in its collection including Heritage, Outback, Monty, and Hiking Boots. Ridgemont is the subject of an assignment for the benefit of creditors. 4. Process Overview. The prospective Assignee will provide a form asset purchase agreement (“APA”) to interested parties who have executed a non-disclosure Agreement (“NDA”) by the NDA Deadline. Letters of Intent in the form of […]

NOTICE OF DISPOSITION OF COLLATERAL AT PUBLIC SALE- BID DEADLINE DECEMBER 4TH Equity Trust Corporation f/b/o Jeffrey M. Wagner IRA (collectively, the “Secured Party”) is the secured party with respect to certain indebtedness owed by Windwrap, LLC (“Debtor”), whose principal place of business is 6943 N. Minnetonka Avenue, Chicago, IL 60646 Debtor’s indebtedness was incurred pursuant to the terms of those certain Promissory Notes dated April 5, 2013 and Security Agreements dated April 5, 2013 (collectively, the “Loan Documents”). Debtor’s obligations under the Loan Documents are secured by the following (collectively, the “Collateral”). All of the personal property of the Debtor, including any right or interest, and the proceeds, insurance proceeds and products thereof, together with all cash, bank accounts, special collateral accounts, books, records, customer lists, credit files, computer files, programs, printouts and other computer records, related thereto; account, chattel paper, documents, equipment, general intangibles, instruments, inventory, pledged deposits […]

Public Notice Of Sale Of Recycler Of Post-Consumer Plastics, Re-Poly, LLC – Bid Deadline November 5th 1. What is being sold? The assets of the following companies: Re-Poly, LLC, a Missouri limited liability company (“Re-Poly”), and Rhino Ventures, LLC, a Kentucky limited liability company (“Rhino” and, together with Re-Poly, the “Re-Poly Entities”). 2. What is the business of the Re-Poly Entities? Re-Poly is a recycler of post-consumer plastics specializing in difficult material streams, including large mixed rigid plastic (“MRP”). Located in St Louis MO, the company operates as a polyethylene and polypropylene reclaimer. The plant utilizes a proprietary process that is specifically designed to shred, wash, sort, and granulate a mixed material intake and can also process materials with high levels of metal contamination. Rhino owns two parcels of real estate, both of which are leased, and Re-Poly is a tenant. 3. When is the sale? There will be an […]

CBQ, LLC is offering for sale approximately 191,075 lbs. of frozen ribs because Canadian American Boxed Meat Corp. refused to return the purchase price after CBQ revoked its acceptance of the ribs.

Auction Advisors to auction the Intellectual Property, Inventory & Other Assets of Innovative Luggage Manufacturer “Travel Light” d/b/a “G-RO” in an ABC. In RE: Assignment for the Benefit of Creditors of Travel Light, Inc. in the Court of Chancery for the State of Delaware, commencing case number 2020-0429-PAF. Qualifying Bids and Deposits Due November 4, 2020 @ 1PM; Auction to be held November 5, 2020. Background: Travel Light was a designer, manufacturer and distributor of unique luggage and other travel accessories operating primarily under the brand name G-RO. The company had a celebrity following and served many of the fastest growing national retailers and brands. It peaked at sales of almost $5M when it implemented a successful Kickstarter campaign. See: https://www.kickstarter.com/discover/advanced?ref=nav_search&term=g-ro. Opportunity Overview: On June 3, 2020, Travel Light assigned all of its assets of every kind and nature whatsoever to a court approved Assignee in an Assignment for the […]

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