A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
J.Jill to Execute Out-of-Court Restructuring
- Client News
- September 11, 2020
Paul, Weiss is advising sponsor Towerbrook Capital Partners in the financial restructuring of its portfolio company J.Jill, Inc., a nationally recognized women’s apparel brand. The company obtained the requisite consents from its term loan lenders to restructure more than $230 million of outstanding term loan debt through an out-of-court transaction. The transaction includes a term loan maturity extension to May 2024, a financial covenant holiday until the fourth quarter of 2021, and waivers of existing non-compliance with the terms of the company’s credit facilities. To facilitate the restructuring, TowerBrook and certain co-investors will provide the company with a new money junior debt investment of at least $15 million. The transaction, expected to close on or about September 30 subject to certain conditions, will provide the company with the financial flexibility to meet its obligations and continue to execute on its business plan.
The Paul, Weiss team includes, among others, restructuring partner Elizabeth McColm and counsel Sarah Harnett; corporate partners Thomas de la Bastide and Raphael Russo and counsel Jason Tyler and David Epstein; and tax partner David Mayo.