Dean & Deluca:NY Bankruptcy Court Article 11 Application: Thailand’s Pace Development Corp.,
US Fine Food Store: Dean & Deluca
On March 31, the company filed for a corporate reorganization proceeding under Section 11 of the Bankruptcy Code with the Federal Bankruptcy Court in New York.
According to court filings, assets are estimated at up to $ 50 million and liabilities up to $ 500 million.
Bloomberg
https://www.bloomberg.co.jp/news/articles/2020-04-01/Q830Z5T1UM0W01
Dean & Deluca Files for Bankruptcy Protection From Creditors (Bloomberg) —
Dean & Deluca Inc., the pioneering gourmet grocer that was already struggling to survive,
filed for Chapter 11 protection from creditors as the coronavirus brought New York City shoppers to a virtual standstill.
The company listed liabilities of as much as $500 million and assets of no more than $50 million in a bankruptcy petition filed in Manhattan.
Its owner, Thailand’s Pace Development Corp., defaulted on a total of 9.5 billion baht (about $315 million) of debt last year.