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Ultra Stores - Successful Chapter 11 Plan

Representation of Ultra Stores—a 200-store jewelry chain—in its recapitalization through an expedited Chapter 11 plan, guiding the company from filing to confirmation in less than four months. We negotiated first lien emergence financing with an institutional lender and a debt-for-equity swap with the second lien lender and the trade creditors. At the same time, management was able to retain 26% ownership in the company.
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Media Mention

Ultra Stores Gets Green Light For Bankruptcy-Exit Plan
July 28, 2009 -- Dow Jones Daily Bankruptcy Review
Dow Jones Daily Bankruptcy Review notes that Josh Angel successfully guided Ultra Stores Inc., a retail jeweler, from Chapter 11 protection -- a rare example of a retailer that emerged from bankruptcy.