WILMINGTON, DELAWARE – July 24, 2008 – Benesch is pleased to announce that the firm has been chosen as counsel to the Official Committee of Unsecured Creditors of National Dry Cleaners, Inc., the largest group of affiliated dry cleaners in the United States.
National Dry Cleaners and eleven of its affiliates filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code on July 7, 2008, in the United States Bankruptcy Court for the District of Delaware. Young Conaway Stargatt & Taylor, LLP is acting as debtors' counsel.
Brad Sandler, a partner in Benesch's Business Reorganization Group who has more than 13 years of experience in complex reorganization and bankruptcy cases, will lead the representation.
The affiliates of National Dry Cleaners, which operate dry cleaning operations in south Florida, Kansas City, Indianapolis, Oklahoma City, Savannah, Las Vegas and locations in South Carolina will continue in possession of their respective properties and will continue to operate their businesses as debtors in possession during the bankruptcy proceedings. As of June 30, 2008, National Dry Cleaners operated 231 dry cleaning stores and 6 central dry cleaning and laundry plants in nine states. The enterprise, which employs over 1,500 people, had net annual sales at December 28, 2007, of $70.2 million.
"The Official Creditors' Committee will play an important role in seeking to better the position and recovery of unsecured creditors," commented Mr. Sandler. "It is gratifying that Benesch has been selected to provide counsel in a case of this size and significance, an appointment that validates this firm's commitment to building a high-quality national bankruptcy practice."
Mr. Sandler is a partner in the firm's Business Reorganization Practice Group, and is a member of the firm’s China Group and its Diversity Committee. He represents businesses in out of court reorganizations, and of debtors, creditors’ committees, secured and unsecured creditors, purchasers, landlords, trustees and post-confirmation plan administrators in business bankruptcies. Mr. Sandler also focuses on representing international and national businesses as well as entrepreneurs in corporate and commercial transactions.
Benesch is a five-time winner of the NorthCoast 99 Award – Best Places to Work. In 2007, Benesch #11 in the nation by The American Lawyer Mid-Level Associate Survey which examines associate satisfaction. With offices in Cleveland, Columbus, Philadelphia, Shanghai and Wilmington, Benesch’s practice and industry groups include Business Reorganization, the China Group, Compensation & Benefits, Construction, Commercial Finance & Banking, Corporate & Securities, Litigation, Health Care, Intellectual Property, Labor & Employment, Polymer Industry, Private Equity, Public Law, Real Estate & Environmental, Tax, Transportation & Logistics, and Estate Planning & Probate. For more information, visit www.beneschlaw.com.