Plan of Reorganization Confirmed for Menswear Retailer

Published on May 1, 2021

Stapleton serves as Financial Advisor to Men's Retailer

Like most upscale retailers, Fresno-based Patrick James’ performance declined suddenly with COVID-19 stay-at-home orders. The 58-year-old menswear company with 11 stores in California, Nevada and Arizona filed for bankruptcy under Subchapter V Chapter 11 in October 2020 and hired Stapleton Group as its financial advisor.

Our team, led by Managing Director Michael Bergthold, quickly negotiated Debtor-in-Possession (DIP) financing to support the company’s working capital needs during the bankruptcy process and prepared comprehensive financial projections to facilitate a successful restructuring.

We then collaborated with the company’s executive team and bankruptcy counsel to create a Plan of Reorganization, which was confirmed by the court in less than 7 months during the Pandemic.

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