Retail Consumer Loan Broker Cottonwood Financial, Operating Under Cash Store Brand, to Run Sale Process for Going-Concern Bids or Restructuring Transaction (First Day Intelligence)
Cottonwood Financial Ltd., an Irving, Texas-based, privately held retail consumer finance company operating under the name Cash Store®, filed for chapter 11 protection in the Bankruptcy Court for the Northern District of Texas. The case has been assigned to Judge Scott W. Everett (case No. 24-80035). The debtors are represented by Gray Reed in Dallas. The company is also working with HMP Advisory Holdings LLC dba Harney Partners as financial advisor. Karen Nicolaou of Harney Partners, is the Chief Restructuring Officer. The company also retained Oppenheimer & Co Inc. as investment bankers. The company is in default under a Main Street Lending Program secured loan, and says it is has “determined that a 363 sale process is the best path to optimize value of the Debtors’ assets and related business” and is “working collaboratively” with its prepetition secured lenders “while it explores strategic alternatives such as a sale, recapitalization, or alternative sources for refinancing.”
Information Source: https://dm.epiq11.com/case/cottonwoodfinancial/info
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