Header for The Chilmark Report

An In-depth Look at Section 363 Activity September 2014
Welcome to the first installment of The Chilmark Report

In 2011, Chilmark Partners began tracking asset sales under Section 363 of the U.S. Bankruptcy Code, and since that time we have been emailing biweekly updates on these sales to interested parties.

Once a relative rarity, "363 sales" have become much more common since the financial turmoil of 2008 and during the subsequent recession. The auctions have become a widely accepted vehicle for resolving Chapter 11 cases; we have tracked more than 300 Chapter 11 363 sales in the last 4X months.

Today, we are launching a monthly companion to the bi-weekly updates. We plan to provide information, insights and analysis of the 363 sales process. We also plan to keep track of some of the companies, executives and advisors involved in 363 sales.

Our first installment provides an overview of the space. Subsequent editions will focus on specific industries, as well as periodic updates on the status of 363 sales as a restructuring tool.
How important are Section 363 sales?
Vulputate vitae ultrices ridiculus libero mauris vestibulum sollicitudin nunc aliquam pulvinar ut massa integer in. Pellentesque quia eget. Sed erat tempor. Ullamcorper nam eros. Read More
Why have they become so prevalent?
Vulputate vitae ultrices ridiculus libero mauris vestibulum sollicitudin nunc aliquam pulvinar ut massa integer in. Pellentesque quia eget. Sed erat tempor. Ullamcorper nam eros. Read More
In which industries are they most common?
Vulputate vitae ultrices ridiculus libero mauris vestibulum sollicitudin nunc aliquam pulvinar ut massa integer in. Pellentesque quia eget. Sed erat tempor. Ullamcorper nam eros. Read More

Where Are They Now?

Hostess Brands

Old HB, Inc., named Hostess Brands, Inc. from 2009-2013, and established in 1930 as Interstate Bakeries Corporation, was a wholesale baker and distributor of bakery products in the United States.

Before its closure and liquidation in 2012, it was the owner of the Hostess, Wonder Bread, Nature's Pride, Dolly Madison, Butternut Breads, and Drake's brands.

On November 16, 2012, the company filed a motion in United States Bankruptcy Court for the Southern District of New York in White Plains seeking permission to close its business and sell its assets.

On November 21, 2012, the motion to close its business was accepted.

A judge then agreed to hand over all the Hostess Brands foods to different buyers.

The Hostess and Dolly Madison brand names along with the cakes and recipes used under each brand are now produced by Kansas City, Missouri-based Hostess Brands, LLC (known as New HB Acquisition, LLC until June 2013.
   
About The Chilmark Partners Auction List
This list represents opportunities to purchase entire operating companies, corporate spin-offs or individual assets through a bankruptcy court auction. The reason for the sale will vary from case to case and may involve non-distressed operations. Depending on the circumstances, valuations in these cases may be very attractive.

About Chilmark Partners
Chilmark Partners is an investment banking firm that specializes in reorganizing troubled companies. We also execute mergers and acquisitions, arrange financing, and provide strategic advice and litigation consulting across a wide range of industries. For more information about how we can assist you in purchasing these or any other assets out of Chapter 11, please visit the 363 section of our website.

 Terms and Conditions


Copyright © 2014. All Rights Reserved.


Report Archives: Home | Current | 2013 Archives