Bayard is representing Carl’s Patio, Inc. and certain of its affiliates (“Carl’s Patio”) in Chapter 11 cases filed on January 21, 2013 in the United States Bankruptcy Court for the District of Delaware. Carl’s Patio filed for bankruptcy protection in order to facilitate a sale of its business operations to Carl’s Patio Acquisition LLC or a higher bidder in a sale process to be approved by the Delaware Bankruptcy Court. The Delaware Bankruptcy Court has authorized Carl’s Patio to continue its business with funding from Fifth Third Bank. The proposed sale process would conclude with a closing on the sale in late February or early March of this year. Bayard restructuring attorneys Neil B. Glassman, Charlene D. Davis and Justin R. Alberto are involved in the representation.
Carl’s Patio, headquartered in Florida, is a premier outdoor and patio furniture retailer. It operates 10 store locations and online. Carl’s Patio offers the finest outdoor furniture collections, providing living and dining furniture and accessories from well-known brand names. It also offers its own popular, private line, Fifth & Shore.