Charlotte Business Journal: Belk’s Restructuring Plan Gains Approval a Day After Retailer Filed for Bankruptcy Protection
February 24, 2021
Popular Southeastern retail chain Belk secured bankruptcy approval from the US Bankruptcy Court in Houston in less than 24 hours, allowing it access to new capital for ongoing strategic growth initiatives, this article reported.
“We’re immensely grateful for our loyal customers, dedicated associates, and supportive vendor partners who enabled us to complete this restructuring efficiently, without delay or disruption. We have a bright future ahead, and I’m looking forward to growing our more than 130-year legacy as a trusted retailer for many years to come," said Belk CEO Lisa Harper in a statement.
O’Melveny partners Joseph Zujkowski and Daniel Shamah and associate Adam Haberkorn advised first lien lenders on the deal.
Charlotte Business Journal subscribers can read the full article here.