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Auction Advisors is accepting bids on behalf of the Assignee in the Delaware assignment for the benefit of creditors of Travel Light, Inc. d/b/a G-RO.
Assets to be sold include: (i) patents associated with the innovative luggage product; (ii) trademarks; and (iii) inventory. 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. Qualifying bids due Noon CT on November 4th.
More information on DailyDAC here.
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When you want retroactive relief in bankruptcy court, ask for it. But don’t ask for nunc pro tunc relief - it will show your age and the need to update your precedent forms. But no worries, a rose by any other name is still a rose, and this is the lesson of Roman Catholic Archdiocese of San Juan, Puerto Rico v. Acevedo Feliciano, 140 S. Ct. 696 (2020). Read more in Rochelle’s Daily Wire, published by the American Bankruptcy Institute.
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DailyDAC is proud to be a media partner for this important virtual event on November 4th and 5th. Back by popular demand, NYIC (the venerable New York Institute of Credit) presents its Virtual Smorgasbord. Over the course of two days there will be 20 live sessions with 80 speakers at which you can earn 18 CPE credits. Click here to register or for more information.
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This webinar is designed to provide a financially distressed business with an overview of the legal tools available to help address its issues. Also highly recommended for the junior corporate restructuring professional.
Learn more or register here.
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Referring to the crushing debt many companies have on their balance sheet but cannot support, James Sprayregen of Kirkland & Ellis, was quoted last month by Bloomberg as saying, “[y]ou could think of it as a rat of debt working its way through the snake, and it takes a while for that to happen . . . A big wave has already happened and we have a semi-hiatus for maybe the rest of the year.”
This view is consistent with an article DailyDAC published - also in September - in which Jonathan Friedland of Sugar Felsenthal (and frequent co-author with Sprayregen), argued that the lack of immediate creditor pressure to file coupled with an uncertainty as to asset values in the most affected industries, would likely keep a larger wave of chapter 11s at bay for sometime.
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Latest Deals Added to the Opportunistic Deal Database
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The deals listed here were added to the ODD throughout the seven day period ending this past Sunday. The number in parentheses next to each deal is its unique ID number, included so our paid subscribers can easily find these deals on our website.
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Secured Party Sales
- Commercial land - 233 acres, 5 tracts - (25532)
- Farming equipment - Multiple lots - (25534)
- Farming equipment - 13 lots - (25533)
- Farming tanks & equipment - (25535)
- Three real properties - (25531)
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Private Company Sales
- Cannabis cultivation business (w/real estate) - (25497)
- Food manufacturing & distributing business - (25499)
- Marine import export business - (25498)
- Former golf course property - (25496)
- Mixed use property - (25495)
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Assignment for the Benefit of Creditors Sales
- Solar renewable power plant designer - (25515)
- Passenger shipping company - (25513)
- Coffee importer/exporter - (25512)
- Manufacturing machinery - (25511)
- Medical device company - (25514)
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Chapter 11 - 363 Sales
- 22,817 sq. ft. industrial building - (25550)
- Industrial equipment & vehicles - (25553)
- 18.25 acre commercial tract - (25552)
- 1+/- acre commercial tract - (25551)
- Restaurant franchise - (25543)
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Chapter 11 - Investment Banker Application Filed
- Manufacturer of industrial machinery - (25556)
- Chain of bakery restaurants - (25554)
- Industrial alloy supplier - (25555)
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Chapter 11 - Case Filing Indicates Future Asset Sale
- Wholesale electronics parts distributor - (25559)
- Manufacturer of sealing products - (25558)
- Wearable tech company - (25557)
- Industrial mold shop - (25560)
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Chapter 7 - Sale of Business Assets
- Intellectual property - restaurant/diner chain - (25540)
- Intellectual property & merchandise - retailer - (25545)
- Unmanned aerial vehicle systems developer - (25536)
- Three commercial lots - (25548)
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Chapter 12 Bankruptcy
- Land parcel - 12.322 acres - (25561)
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Rating Agency Alerts/Other Signs of Distress
- Travel industry media services provider - (25523)
- Oil filtration system distributor - (25525)
- Manufacturer of copper alloys - (25522)
- Global direct selling company - (25521)
- Supplier of ceramic proppant - (25524)
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Auctions
- Large capacity turbine repair facility - (25487)
- Farming equipment - Multiple lots - (25484)
- Commercial tool & die plant - (25489)
- Metal recycling equipment - (25486)
- Construction company - (25485)
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Other Interesting Sales
- Community development property - 60 acres - (25527)
- Mineral classified acreage - 617 acres - (25530)
- Cattle ranch - 4,500 acres - (25529)
- Farm/ranch - 396 acres - (25528)
- Farmland - 640 acres - (25526)
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Bulk Sales
- Commercial beverage license - (25493)
- Commercial laundry business - (25490)
- Full-service restaurant - (25494)
- Industrial supplier - (25492)
- Bar/restaurant - (25491)
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Receiverships
- Heavy equipment & trucks - Multiple lots - (25516)
- OEM repair & manufacturing facility - (25520)
- Construction equipment supplier - (25518)
- Travel & rental apartments - (25519)
- Lodging facility - (25517)
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Mass/Significant Layoffs
- Aftermarket fuel & water pump manufacturer - (25506)
- Metal interior trim manufacturer - (25510)
- Fabricated metals manufacturer - (25509)
- Fine restaurant chain - (25507)
- Packaging company - (25508)
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Plant/Facility Closings
- Metal tank & heavy gauge manufacturer - (25505)
- Ball & roller bearing manufacturer - (25502)
- Hardware merchant company - (25501)
- Digital printing facility - (25503)
- Machine shop - (25500)
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1954 First Street, Suite 178
Highland Park, IL 60035
847-463-9530
[email protected]
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