Upscale kitchenware purveyor Sur La Table’s Chapter 11 Plan of Liquidation went into effect on November 6, 2020. The Plan was the culmination of a quick, successful case wherein the U.S. Bankruptcy Judge commended counsel on the “extraordinarily high degree of professionalism.” The result was an approximately $89 million asset sale (following a competitive auction that saw the stalking horse purchase price increase by approximately $28 million), the retention of almost half of the retailer’s 121 stores, and the preservation of thousands of jobs. Representing the Official Committee of Unsecured Creditors, the Lowenstein team included Jeffrey Cohen, Lowell A. Citron, Philip J. Gross, Michael Papandrea, and John P. Schneider.
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