Event Rentals, Inc. filed Chapter 11 in Delaware on February 13, 2014 with 12 affiliated debtors, reporting 1,000-5,000 creditors and estimated assets and liabilities each in the $100 million-$500 million range source filing. The Inglewood, California-based business described itself as the nation’s largest event-rental provider, with 39 showroom and warehouse locations across 22 markets, more than 2,500 employees, roughly 55,000 customers, and more than 145,000 events annually; as of December 26, 2013, it reported about $148 million of assets, $246 million of liabilities, $175 million of senior secured debt, $36 million of liquidity notes, $5.5 million of seller financing, and $16.6 million of trade debt source filing.

The case moved through a lender-backed sale and wind-down track: the court approved a $150 million DIP/cash-collateral package from the prepetition lender group, then approved a sale of substantially all assets to GSO Capital Partners LP or a designated affiliate, with the disclosure statement identifying CP OpCo, LLC as buyer and a May 23 closing source filing source filing source filing. On August 27, the court confirmed the first amended liquidation plan proposed by the debtors and the unsecured creditors’ committee, binding creditors to a liquidation trust structure; priority and non-lender secured claims were unimpaired, unsecured creditors were directed to share available proceeds estimated at about $606,250 less the opt-out carveout, and equity was cancelled with no recovery source filing.