Joele Frank is handling the pre-packaged, one-day reorganization of Belk department store chain, which has about 300 outlets in the southeastern US.
Founded in 1888, Belk expects to file for Chapter 11 on Feb. 24 and anticipates confirmation of the restructuring on the same day.
Under the plan, Sycamore Partners private equity firm will retain majority control of Belk. Sycamore, KKR and Blackstone Credit have agreed to provide $225M in financing to the chain.
Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag and Arielle Rothstein represent Sycamore in the Belk reorg.