Vitamin World, Inc., et al.

In re: Vitamin World, Inc., et al., Case No. 17-11933 (KJC)
United States Bankruptcy Court, District of Delaware

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On September 11, 2017 (the "Petition Date"), Vitamin World, Inc. and certain of its affiliates (together, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The Debtors' bankruptcy cases are jointly administered under case no. 17-11933 before the Honorable Kevin J. Carey in the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court").

A detailed description of the Debtors’ businesses and operations, and the events leading to the commencement of these Chapter 11 Cases, is provided in the Declaration of Frank Conley in Support of Debtors’ Chapter 11 Petitions and First Day Motions (Docket No. 2) and the Supplement to Declaration of Frank Conley in Support of Debtors’ Chapter 11 Petitions and First Day Motions (Docket No. 161). Although the Debtors initially intended to proceed with a plan of reorganization in connection with these Chapter 11 Cases, operational challenges and liquidity concerns caused the Debtors to pursue a sale of substantially all of their assets.

In November, the Debtors obtained Court approval (Docket No. 439) to begin liquidating their inventory (the “GOB Inventory”) at approximately 122 retail locations (the “GOB Leased Locations”). On December 22, 2017, the Court entered an Order (Docket No. 553) approving the sale of substantially all of the Debtors’ assets, excluding the GOB Inventory (the “Sale”) to Vitamin World USA Corporation (the “Buyer”) pursuant to the Amended and Restated Asset Purchase Agreement dated December 21, 2017. The Sale closed on January 19, 2018.

On January 5, 2018, the Debtors sold the remaining GOB Inventory to the Buyer and, on January 22, 2018, the Court entered an Order (Docket No. 630) approving the rejection of the leases for the GOB Leased Locations under section 365 of the Bankruptcy Code.

On January 5, 2018, the Debtors filed the first Motion of the Debtors for Entry of an Order Extending the Debtors’ Exclusive Periods to File a Chapter 11 Plan and Solicit Votes Thereon (Docket No. 581) (the “First Exclusivity Motion”). The Court entered an Order (Docket No. 670) on February 14, 2018, granting the First Exclusivity Motion and extending the Exclusive Filing Period through and including April 9, 2018. The Court also extended the Exclusive Solicitation Period through and including June 8, 2018.

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