Alex and Ani secures final court approval to access cash collateral

By Sarah Lizee

Olympia, Wash., July 19 – Alex and Ani, LLC received final court approval to access the cash collateral of its pre-petition secured lenders, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Alex and Ani said in its motion that the debtors require immediate access to liquidity to ensure that they are able to continue operating during the Chapter 11 cases, preserve the value of their estates and pursue the restructuring transactions.

Alex and Ani is a jewelry-making company based in East Greenwich, R.I. The company filed bankruptcy on June 9 under Chapter 11 case number 21-10918.

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