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Lion Ribbon Texas Corp., formerly part of IG Design Group plc, is a designer, manufacturer, and distributor of consumer products for crafting, gifting, and stationery, including gift wrap, ribbons, sewing patterns, toys, and creative play products under 50+ brands. The company operated multiple business divisions including Creative Play/Toys (Anker Play), Seasonal, Craft, and Ribbon, employing approximately 1,467 people worldwide. Revenue declined 16% to $500.3 million in FY24 from a peak of $614 million in FY2021. IG Design Group sold its Americas operations to Hilco (HUK 168 Limited) for $1 on May 30, 2025. On July 3, 2025, 22 debtor entities filed Chapter 11 in the Southern District of Texas (Case No. 25-90164) following the second consecutive year of revenue decline, the liquidation of major customer JOANN, reduced consumer spending, trade tariffs, and the inability to fund inventory for the holiday season. At filing, the Debtors carried approximately $15.8 million in prepetition secured debt from a Hilco affiliate plus approximately $105.7 million in unsecured liabilities. HCS 107, LLC (Hilco affiliate) provided a $53 million DIP facility including approximately $37.8 million in…
Updated Mar 10, 2026
Aug 25, 2026
General / Status · 11:00 AM CT · Hon. Christopher M. Lopez
Affidavit Re: of Gregory Depalma Regarding Liquidating Trustees Fourth Omnibus Objection to Claims (Reduced, Reduced & Reclassified, Reclassified, Books and Records, and No Liability Claims). (related document(s):1240 Objection to Claim). Filed by Kroll Restructuring Administration, LLC
Docket 1317 · Aug 12, 2026
Affidavit Re: of Thomas Evangelista Regarding Claim Transfer Notices. (related document(s):1250 Transfer of Claim, 1254 Transfer of Claim, 1259 Transfer of Claim, 1261 Transfer of Claim). Filed by Kroll Restructuring Administration, LLC
Docket 1316 · Aug 11, 2026
Objection to Claim Number by Claimant / Debtors' Tenth Omnibus Objection to Certain Claims (Filed By Durc Savini, in his capacity as Liquidating Trustee) Hearing scheduled for 9/22/2026 at 11:00 AM at Houston, Courtroom 402 (CML). (Attachments: # 1 Exhibit A - Proposed Order # 2 Exhibit B - Savini Declaration)
Docket 1315 · Aug 10, 2026
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