Kid Brands committee OK to hire Emerald Capital as financial adviser

By Kali Hays

New York, Aug. 18 – Kid Brands, Inc.’s official committee of unsecured creditors received authorization to hire Emerald Capital Advisors Corp. as its financial adviser under an Aug. 18 order with the U.S. Bankruptcy Court for the District of New Jersey.

The hiring is retroactive to July 7.

As previously reported, Emerald will review and analyze Kid Brands’ financial condition and business strategy, assist the committee in evaluating any proposed financing, asset sales or transactions and advise the committee in negotiations related to creditor treatment and the company’s capital structure.

Employees of Emerald will be paid an hourly rate between $200 and $600, but total monthly fees will be capped at $65,000, according to the motion.

Kid Brands, an East Rutherford, N.J.-based designer, importer, marketer and distributor of infant and juvenile consumer products, filed for bankruptcy June 18 in the U.S. Bankruptcy Court for the District of New Jersey. The Chapter 11 case number is 14-22582.

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