Today, Big Village Group, Inc. and its affiliated companies (“Big Village”) have announced they have secured purchasers for their Agency, Insights, as well as the managed services platform of their EMX business line. Big Village has executed asset purchase agreements to sell the Agency and Insights business lines to Refuel Agency, and a second agreement to sell the managed services business of EMX to a publicly traded strategic buyer. Both of the sales will be effectuated through a coordinated chapter 11 bankruptcy process filed in Delaware and supported by Big Village’s senior secured lending group. Concurrent with the chapter 11 filing, Big Village filed a series of “first day motions” that, when approved, will ensure minimal operational impact to Big Village and the EMX managed services business. Both sales will be subject to higher or better offers and final approval by the bankruptcy court.
[Big Village is advised by Young Conaway as its legal advisors (Joe Barry, jbarry@ycst.com), Stephens, Inc. as its investment banker (Sachin Lulla, sachin.lulla@stephens.com) and Portage Point Partners (Matt Ray, mray@pppllc.com) as its Chief Restructuring Officer and restructuring advisors.]