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Harry & David negotiates pre-arranged bankruptcy plan

September 2011

Client(s) Harry & David Holdings, Inc.

Jones Day represented Harry & David Holdings, Inc. and its affiliates in their chapter 11 cases filed in the District of Delaware. Prior to the filing, Jones Day assisted Harry & David in negotiating a pre-arranged chapter 11 plan with an ad hoc committee of its public noteholders and two separate debtor-in-possession financing facilities. The Delaware bankruptcy court confirmed Harry & David's chapter 11 plan on August 30, 2011. The plan included a $55 million rights offering and corresponding backstop commitment from the ad hoc committee and a landmark settlement with the Pension Benefit Guaranty Corporation relating to the termination of the company's pension plan. Harry & David's chapter 11 plan became effective on September 14, 2011.

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