Reading China and Glass, Inc.
Young Conaway served as lead counsel to Reading China and Glass, Inc., et al., a privately held 34-store retailer of dining, cooking and entertaining merchandise headquartered in Newark, Delaware. Reading China filed petitions for bankruptcy protection, in part, based on its failure to successfully develop a merchandise and marketing strategy consistent with their expansion into the "big box" retail category which resulted in a significant liquidity crisis. During the case, Young Conaway advised and assisted Reading China in maximizing the value of its assets through multiple sale transactions, including multiple inventory sales and sales of Reading China's headquarters, trade names and store leases. Young Conaway also filed and successfully prosecuted a chapter 11 plan of liquidation.