Fox Partner Mette Kurth discusses iPic-Gold Class Entertainment, Inc.’s Chapter 11 case in Delaware:

iPic-Gold Class Entertainment, Inc. (IPIC) has filed a Chapter 11 case in Delaware to sell its business through a “363” bankruptcy auction.

iPic is a Florida-based, publicly traded movie theater and restaurant company with 16 locations in 9 states that provide

Introduction

Norwood Promotional Products, one of the leading suppliers of imprinted promotional products, filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on May 5, 2009.  According to Norwood’s Declaration in Support of its Bankruptcy Motions (the “Declaration”), Norwood’s bankruptcy was the result of weakening demand for its products, an