Le Pain Quotidien Confirms Ch. 11 Liquidation Plan

By Vince Sullivan (September 25, 2020, 3:51 PM EDT) -- Bakery chain Le Pain Quotidien received court approval Friday in Delaware for its Chapter 11 plan of liquidation that will provide recoveries to unsecured creditors through a trust that can pursue claims left behind after a $3 million sale of assets.

During a virtual hearing, debtor attorney Jason M. Madron of Richards Layton & Finger PA said the plan was the result of a lot of hard work and the combined efforts of the company and its unsecured creditors to avoid a straight liquidation of assets.

"The debtors are 100% supportive of confirmation of the plan and believe under the facts...

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