Case Background

On April 3, 2017, Angelica Corporation (“Angelica” or the “Company”) announced that it entered into an asset purchase agreement (“APA”) with an affiliate of KKR, under which the KKR affiliate will acquire substantially all of Angelica’s assets as a going concern.

To facilitate the sale process, Angelica filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Angelica’s case has been assigned to the Honorable Judge James L. Garrity Jr. and Case No. 17-10870.

Under the terms of the APA, the KKR affiliate will serve as the “stalking horse bidder” in a court-supervised sale process that Angelica will conduct pursuant to Section 363 of the Bankruptcy Code. Accordingly, the APA is subject to higher and better offers, among other conditions.

Angelica expects to continue operating as normal throughout this process. The Company intends to meet its business obligations and pay suppliers in full under normal terms for goods and services provided on or after the filing date of April 3, 2017.

For additional information, including frequently asked questions, please visit www.angelica.com/restructuring.

Important Information & Dates

Plan & Disclosure Statement

On May 18, 2017, the Debtors filed their Plan of Reorganization and the Disclosure Statement related thereto.  The hearing to consider approval of the Disclosure Statement was continued to June 29, 2017 at 4:00 p.m. (prevailing Eastern time). On June 30, 2017, the Bankruptcy Court entered an order approving the Disclosure Statement.  The hearing to consider confirmation of the Plan will be held on August 22, 2017 at 11:00 a.m. (ET).

Please click below to view all documents related to the Plan and Disclosure Statement:

Plan & Disclosure Statement 

Claim Filing Deadline

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors

    •  General Bar Date: June 26, 2017 at 5:00 p.m. (Eastern Time)

    •  Governmental Unit Bar Date: September 30, 2017 at 5:00 p.m. (Eastern Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

Sale

On April 28, 2017, the Bankruptcy Court entered an order approving the bidding procedures for the sale of substantially all of Angelica’s assets.

Please take note of the following important dates related to the sale:

    •  Bid Deadline: May 29, 2017 at 4:00 p.m. (ET)

    •  Sale Objection Deadline: June 2, 2017 at 12:00 p.m (ET)

    •  Auction (if neccessary): June 5, 2017 at 10:00 a.m. (ET)

    •  Sale Hearing: June 14, 2017 at 10:00 a.m. (ET)

First Day Hearing

A hearing on the Debtors' First Day Motions was held on April 4, 2017 at 3:00 p.m. (ET) before the Honorable Judge James L. Garrity Jr., United States Bankruptcy Judge, United States Bankruptcy Court for the Southern District of New York, One Bowling Green, Room 601, New York, New York 10004. A final hearing on certain of the First Day Motions was held on April 28, 2017 at 10:00 a.m. (ET). Please click below to view and download the Debtors' First Day Motions and the First Day Orders:

First Day Motions

First Day Orders

Dates

July
26

Omnibus Hearing

11:00 a.m. (ET)
August
22

Confirmation Hearing

11:00 a.m. (ET)
September
30

Governmental Bar Date

5:00 p.m. (ET)
April
3
________
June
27
10:00 a.m. (ET)

Disclosure Statement Hearing

August
22
11:00 a.m. (ET)

Parties

Debtors' Counsel

Weil, Gotshal & Manges LLP

767 Fifth Avenue
New York, NY   10153
http://www.weil.com/
Phone: 212.310.8000
Fax: 212.310.8007
Matthew S. Barr
Jill Frizzley
Kevin Bostel

United States Trustee and Court Information

United States Bankruptcy Court

Southern District of New York
One Bowling Green
New York, NY   10004-1408
http://www.nysb.uscourts.gov
Phone: 212.668.2870

United States Trustee

U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY   10014
https://www.justice.gov/ust-regions-r02
Phone: 212.510.0500
Fax: 212.668.2255
Richard C. Morrissey

Debtors

Case Number
Debtor Name
Petition Date
17-10870 Angelica Corporation April 03, 2017
17-10871 Clothesline Holdings, Inc. April 03, 2017
17-10869 Angelica Textile Services, Inc. (New York) April 03, 2017
17-10873 Royal Institutional Services, Inc. April 03, 2017
17-10872 Angelica Textile Services, Inc. (California) April 03, 2017