March 31, 2015 - Lowenstein Sandler LLP was selected as committee counsel to the Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy case of Gourmet Express. The Texas-based frozen meal producer, which provides frozen meals to big box retailers such as Wal-Mart Stores Inc. and Costco Wholesale Corp, reported a drop in sales from $61 million in 2013 to $49 million in 2014.
With approximately $20,000,000 in secured debt, including owing Genesis Merchant Partners $15,600,000 and Sienna Lending Group $1,400,000, Gourmet Express filed for Chapter 11 protection in the United States Bankruptcy Court for the District of Maryland on March 11. The company intends to sell all assets in a "363" sale with a closing within 60 days.
The committee retained Glass Ratner as financial advisor.
With extensive experience representing both debtors and creditors' committees in large, complex Chapter 11 proceedings nationwide, Lowenstein Sandler's legal team includes partners Bruce S. Nathan, Kenneth A. Rosen and David M. Banker.
About Lowenstein Sandler
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