New Delaware Chapter 11 – FTD Companies, Inc., et al.
FTD Companies, Inc., along with fourteen affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11240). FTD, based in Downers Grove, IL, is a premier floral and gifting company operating through the United States, Canada and internationally. According to the First Day Declaration, FTD has filed as a result of a strategic acquisition that failed to lead to anticipated benefits. A press release issued by FTD explains that FTD intends to operate in the ordinary course of business as it pursues sales of various business lines during the chapter 11 cases. Omni Management Group is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick or G. David Dean for more information regarding this matter.
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As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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