Company Overview of Max Rave, LLC
Max Rave, LLC retails female apparel. It sells substantially all of its merchandise under private label names, including R4R and Shut Eye; and provides the customers with fashionable apparel and accessories. The company’s apparel offerings include tops, bottoms, dresses, lingerie, coordinates, accessories, shoes, and outerwear. Max Rave, LLC has stores in 42 states in the United States. The company was founded in 1998 and is based in Vernon, California. As of August 25, 2006, Max Rave, LLC operates as a subsidiary of BCBG Max Azria Group, LLC. On February 28, 2017, Max Rave, LLC filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern Distric...
2761 Fruitland Avenue
Vernon, CA 90058-3607
Founded in 1998
Key Executives for Max Rave, LLC
Max Rave, LLC does not have any Key Executives recorded.
Max Rave, LLC Key Developments
First Amended Reorganization Plan Approved for BCBG Max Azria Global Holdings, LLC
Jul 26 17
The US Bankruptcy Court approved the amended plan of reorganization of BCBG Max Azria Global Holdings, LLC on July 26, 2017. The debtor has filed its amended plan in the Court on June 14, 2017. As per the plan filed, administrative claims, professional fee claim and priority tax claims will be paid full in cash. DIP claims consisting of a revolving DIP facility claim of $42.40 million and a term loan DIP facility claim of $82.20 million, shall be paid in full in cash. Secured tax claims of $1 million and other priority claims of up to $1 million shall be paid full in cash. Other Secured Claims of $0.50 million and ABL Claims of $83.20 million shall be paid in full in cash. Term Loan Tranche B Claim of $289.41 million shall have a recovery of 0.60% amounting to $1.74 million, and will be paid its Pro Rata share of the Term Loan Tranche B recovery and other proceeds. Term Loan New Tranche A Claims will receive their Pro Rata share of Excess Distributable Cash, if any, and rights to payments under the Royalty Sharing Agreement. Unsecured claims of $140 million will have an estimated recovery of 0.20% amounting to $0.28 million. Intercompany interest shall be reinstated under the plan. Interests in Global Holdings shall be cancelled as of the effective date. The plan will be funded from cash in hand, proceeds from asset sales and issuance of reorganized Global Holdings interests and resolution of Canadian proceedings.
Bidding Procedure Approved for BCBG Max Azria Global Holdings, LLC
Jun 30 17
The US Bankruptcy Court gave an order approving the amended bidding procedures to select a liquidation agent to conduct the sale of BCBG Max Azria Global Holdings, LLC’s assets on June 30, 2017. The Court approved the amended agency agreement between the debtor and Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC. Under the terms of the amended agreement, Debtor has identified 29 additional stores to be closed under the agreement. For each additional store, the sale commencement date shall be June 30, 2017, and the sale termination date shall be September 27, 2017. The debtor will pay fee of 1.5% of the aggregate net sale proceeds and commission of 15% of gross proceeds from the sale of FF&E to the agent.
First Amended Reorganization Plan and Disclosure Statement Filed by BCBG Max Azria Global Holdings, LLC
Jun 14 17
BCBG Max Azria Global Holdings, LLC filed amended plan of reorganization with related disclosure statement in the US Bankruptcy Court on June 14, 2017. As per the amended plan, Holders of Term Loan New Tranche A Claims will receive their Pro Rata share of Excess Distributable Cash, if any, and rights to payments under the Royalty Sharing Agreement. Other Priority Claims in the range of 0 to $1 million will be paid in full. The treatment of Term Loan Tranche B Secured Claims was removed from the amended plan. The Critical Trade Claims were also removed from the amended plan. Unsecured Claims in the range of $425 million to $455 million will receive Pro Rata share of the Unsecured Creditor Recovery Pool, which consists of $0.20 million. The debtor reported ABL Claims of $83.2 million, Revolving DIP Facility of $42.4 million and Term Loan DIP Facility of $82.2 million. The plan will be funded from cash in hand and proceeds from asset sales of $106 million and $23 million. The amended plan does not contain New ABL Facility and Term Loan Lender Exit Facility. The treatment of the remaining classes of claims remains unchanged. The debtor filed a revised first amended plan of reorganization and related disclosure statement in the Court on June 23, 2017. Under the plan filed, the Term Loan Tranche B Claim of $289.41 million will be paid its Pro Rata share of the Term Loan Tranche B recovery and other proceeds. The Unsecured claims of $140 million will have an estimated recovery of maximum 0.2%. The purchase price for the sale of assets has been increased to $108.1 million. There is no change in treatment of various claimant classes. Debtor filed a revised amended plan in the Court on July 21, 2017. There is no change in treatment of various claimant classes. BCBG Max Azria Global Holdings, LLC filed a revised amended plan in the court on July 25, 2017. The treatment of various classes of claims shall remain unchanged.
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