Anna’s files Ch. 11, potential buyer lined up

Home Textiles Today Staff //News & Commentary//June 16, 2015

Costa Mesa, Calif. – Anna’s Linens has filed for Chapter 11 bankruptcy protection and announced it is negotiating a sale to DW Partners, a hedge fund manager with $6 billion in assets.

The 268-unit specialty home chain reported it has an agency agreement with Hilco/ Gordon Brothers , but said the parties support the DW deal. Anna’s is working with the investment bank Wunderlich Securities on the transaction.

Anna’s filed in the United States Bankruptcy Court, in Santa Ana, Calif. The company has negotiated a debtor in possession financing arrangement (DIP) with Salus Capital, Anna’s pre-petition lender.

According to the bankruptcy filing, Anna’s top unsecured creditors are:

  • Welcome International: $3.998 million
  • Shewak Lajwanti Home Fashions:  $3.66 million
  • S. Lichtenberg And Co.: $3.16 million
  • Roind Hometex Co.L $2.81 million
  • CHF Industries: $2.78 million
  • P And A Marketing: $1.986 million
  • Beatrice Home Fashions: $1.80 million
  • Vara Home Usa: $1.606 million
  • Kenney Manufacturing: $1.52 million
  • S Cheer Hk Co.: $1.396 million
  • Croscill Home: $1.267 million
  • Transplace Texas: $1.235 million
  • Greenleaf Media Services: $1.22 million
  • Victoria Classics: $1.199 million
  • Natco Products: $1.193 million
  • Corona Curtain: $1.169 million
  • Hollander Sleep Products: $1.164 million
  • Shanghai, Helmtex Co.: $1.153 million
  • Panda Home Fashions: $1.152 million

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