Arandell Holdings, Inc. and its affiliated debtors (“Arandell” or the “Debtors”), a catalog printing services company, recently filed for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the District of Delaware.
According to the Declaration of Bradley J. Hoffman in Support of the Chapter 11 Petitions and First Day Motions, Arandell is a 100 year old commercial printing company, based out of Wisconsin. Among other things, Arandell had recently experienced substantial issues with its Kentucky plant, which had been abandoned by its prior owners and had been idle for six months leading up to the bankruptcy filing. In addition, the Debtors had been experiencing significant liquidity issues.
According to the petition for relief, Arandell reports assets in the range of $10 million to $50 million, and liabilities in the range of $100 million to $500 million. The petition reflects less than 1,000 creditors, and estimates that funds will be available for distribution to unsecured creditors.
The Debtors’ first-day motions were entered by the Court on an interim basis on August 14, 2020. A final hearing on the first-day motions is scheduled for September 15, 2020 at 1:00 p.m. E.T. before the Delaware Bankruptcy Court, with objections due September 8, 2020.
The lead case number is Case No. 20-11941. The Debtors’ cases are before the Honorable John T. Dorsey.
Carl D. Neff is a partner with the law firm of FisherBroyles, LLP, and practices in Delaware. You can reach Carl at (302) 482-4244 or at Carl.Neff@FisherBroyles.com.