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Dean & DeLuca Completes Financial Restructuring, Emerges From Chapter 11

February 18, 2021, 08:10 AM
Filed Under: Bankruptcy

On Nov. 25, 2020, the Bankruptcy Court in the Southern District of New York confirmed Dean and DeLuca's Chapter 11 plan. The chain of upscale grocery stores and cafes filed a voluntary petition for relief on March 31, 2020. The Chapter 11 Plan became effective on January 28, 2021.

Joseph Baum, CFGI's Partner in charge of Restructuring, and Lawton Bloom of Argus Management were Co-CROs, and Brown Rudnick LLP acted as reorganization counsel, successfully leading the company through bankruptcy.

Reorganized Dean and Deluca emerged with a stronger balance sheet, eliminating over $300 million in debt. The company is working to restart operations in the United States and around the world.

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