Z Gallerie, LLC and Z Gallerie Holding Company, LLC, have filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10488). Although a First Day Declaration has not yet been filed, the Debtors have issued a press release announcing that they intend to close as many as seventeen stores and will seek approval of $28 million in DIP Financing to be provided by their existing secured lender, KeyBank NA. The Debtors appear to intend to pursue a “toggle” reorganization, and have filed both a bid procedures motion and a plan of reorganization. A creditor matrix can be found here. Stretto is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.