 |
BGR Group represents Noble Supply and Logistics as it files for Chapter 11 due to a change in its weapons support contract with the Defense Logistics Agency.
DLA cut the term of Noble’s contract from 10 to four years after the company had already acquirred the inventory to satisfy the initial agreement. That change left the Boston-based company with $100M in inventory and assorted financial obligations
Founder & CEO Tom Noble said after a thorough evaluation of the company's options, it determined that Chapter 11 “is the right path to preserve the value of our business, while allowing us to continue meeting our obligations to the customers and partners we serve.”
He added that the company could not withstand the “significant headwinds that it will face over the coming months" due to the DLA move.
Noble Supply will use the Chapter 11 process to pursue a sale of all or some of its assiets, or mount a corporate overhaul.
BGR Group’s Jo Maney handles Noble Supply's Chapter 11.
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.
