Stage Stores, Inc.’s Acquisition of Select Assets of Gordmans Stores, Inc. Through a Bankruptcy Section 363 Transaction
March 30, 2017
On March 30, 2017, Stage Stores, Inc. announced that its subsidiary has prevailed in its bid to acquire select assets of Gordmans Stores, Inc. through a bankruptcy auction. Under the terms of the transaction, the Stage subsidiary will, subject to exceptions in the purchase agreement, acquire a minimum of 50 Gordmans store leases, with rights to assume leases for an additional seven stores and a distribution center; all of Gordmans’ inventory, furniture, fixtures, equipment and other assets at the 57 store locations; and the trademarks and other intellectual property of Gordmans. Cravath is representing Stage in connection with the transaction.
Stage intends to fund the transaction and related investments from existing cash and availability under its credit facility. The transaction is expected to close during Stage’s first quarter of fiscal 2017, subject to the approval of the court administering the Gordmans bankruptcy and customary closing conditions. Substantially all of the remaining assets at Gordmans’ remaining 48 stores and other facilities are expected to be liquidated by Tiger Capital Group, LLC and Great American Group, LLC pursuant to their joint bid with Stage.
The Cravath team includes associate Amber Lam on M&A matters; partner Paul H. Zumbro and associate Matthew M. Kelly on financial restructuring and reorganization matters; partner Lauren Angelilli and associate Andrew T. Davis on tax matters; partner Eric W. Hilfers, practice area attorney Romica Singh and associate Sally Ye on executive compensation and benefits matters; partner David J. Kappos and senior attorney Margot A. Wagner on intellectual property matters; practice area attorney Brian M. Budnick on real estate matters; and senior attorney Jesse M. Weiss on antitrust matters. Additionally, Ethan Kim worked on M&A matters and Dean M. Nickles worked on financial restructuring and reorganization matters.
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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B.A., 1992, Yale CollegeDistinction in Major, cum laude
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J.D., 2000, Harvard Law Schoolcum laude
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B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
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J.D., 1998, University of Chicago Law Schoolwith Honors
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A.B., 1995, Princeton University
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J.D., 1990, University of California, Berkeley, School of Law
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B.S., 1983, University of California, Davissumma cum laude
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J.D., 2008, Georgetown University Law Centermagna cum laude
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