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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.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
