Monday, June 18, 2018

PetSmart Lenders Square Off as Third Group Forms in Asset Battle

Lender groups across PetSmart Inc.’s capital structure have squared off in groups and enlisted the help of restructuring advisers in an effort to protect their collateral after the company “ pulled a J. Crew.”

Certain unsecured bondholders this week became the latest to organize, bringing in law firm Milbank, Tweed, Hadley & McCloy to assist in future discussions with the pet superstore, according to people familiar with the matter.. . . more