Inglewood Appointed as Financial Advisor in InkStop Chapter 7 Bankruptcy

Inglewood has been appointed financial advisor to the trustee, MaryAnn Rabin, Esq., in the Chapter 7 bankruptcy liquidation of InkStop, Inc., the office supplies retailer that shut its doors without warning in the fall of 2009.

A Sudden Shutdown

At its peak, InkStop operated more than 160 stores across 14 states. On October 1, 2009, the company abruptly ceased operations, closing every store and terminating its employees after it was unable to fund payroll that day. InkStop filed for Chapter 7 liquidation on November 5, 2009. Its bankruptcy petition listed more than 1,000 creditors and total debts of almost $50 million.

Financial Advisor to the Chapter 7 Trustee

Working with the trustee and her counsel, Colette Gibbons of Schottenstein, Zox and Dunn, Inglewood will:

• Assist in oversight of the inventory liquidation sale
• Maximize the recovery of value from InkStop's corporate assets
• Analyze the claims filed against InkStop
• Determine whether the estate holds claims of its own that could return value to the company's creditors

Trustee engagements like this one sit at the core of Inglewood's trustee services and bankruptcy advisory work, supported by the firm's financial advisory and forensics practice. The mandate in every case is the same: protect the estate and recover as much value as possible for creditors.