L'Occitane, committee file Chapter 11 plan; statement hearing Aug. 19

By Sarah Lizee

Olympia, Wash., July 12 – L'Occitane, Inc. and its official committee of unsecured creditors filed a Chapter 11 plan of reorganization and related disclosure statement Friday with the U.S. Bankruptcy Court for the District of New Jersey.

Distributions under the plan will be funded by the reorganized debtor’s cash on hand and an exit loan facility provided by L’Occitane International, the parent of the debtor, in order to pay all claims under the plan.

Under the plan, the reorganized debtor will pay administrative claims, professional fee claims, priority tax claims, secured tax claims, other secured claims, other priority claims and general unsecured claims in full in cash.

The debtor will fund a professional fee claim reserve, which will be used to pay professional fee claims.

Existing intercompany claims, other than the $20 million loan from L’Occitane International, will be paid in cash.

Existing interests in the debtor will be retained.

A hearing on approval of the disclosure statement is scheduled for Aug. 19.

L'Occitane is a New York-based retail chain that sells and promotes beauty and well-being products. The company filed bankruptcy on Jan. 26, 2021 under Chapter 11 case number 21-10632.

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