Orchard Brands plan unanimously approved by three voting classes

By Caroline Salls

Pittsburgh, April 11 - Appleseed's Intermediate Holdings LLC's plan of reorganization was unanimously accepted by three of four voting classes, according to a Saturday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, all nine holders of $28.17 million in debtor-in-possession facility tranche B claims voted to accept the plan, as did all 22 holders of $245.11 million in first-lien secured claims and the one holder of $291.2 million in second-lien note claims.

In addition, 690 holders of $32.2 million in general unsecured claims voted to accept the plan, while 22 holders of $18.88 million of these claims voted to reject it.

According to the filing, of the $18.88 million in general unsecured claims that voted to reject the plan, $17.39 million were general unsecured claims held by GGC Administration LLC and Trilogy Fulfillment LLC.

Both are affiliates of Golden Gate Private Equity, Inc. and its related entities, which are potential defendants in litigation trust causes of action.

The plan confirmation hearing is scheduled for Thursday.

Golden Gate Capital's Appleseed's Intermediate Holdings LLC does business as Orchard Brands. Appleseed's is a Beverly, Mass.-based clothing retailer that filed for bankruptcy on Jan. 19. The Chapter 11 case number is 11-10160.

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