Charming Charlie Gets Final DIP OK Over Landlord Concerns

Law360, Wilmington (January 11, 2018, 8:53 PM EST) -- Bankrupt women’s jewelry and accessory retailer Charming Charlie Inc. received final approval Thursday in Delaware for its post-petition financing packages after a judge overruled the objections some landlords made to the timing of rent payments.

During a hearing in Wilmington, Charming Charlie attorney Aparna Yenamandra of Kirkland & Ellis LLP told U.S. Bankruptcy Judge Christopher S. Sontchi the debtor had reached agreement with its lenders and the official committee of unsecured creditors on the debtor-in-possession financing, but that some landlords for its store locations were seeking early payment of stub rent.

“The DIP budget has always contemplated the stub rent gets...

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