Pinstripes Filed for Bankruptcy After Oaktree Deal Talks Stalled

Pinstripes Inc. filed for bankruptcy in Delaware Monday, about six months after the bowling and dining chain held talks with Oaktree for a recapitalization transaction.

• The company held those talks with the distressed debt investor in March and hired restructuring advisers in April after the deal faltered, according to court papers filed on Monday
  • Oaktree held second-lien debt of the company and had exited its position “for a fraction of the face amount of its debt” by selling to Silverview
• Silverview Credit Partners is the largest creditor in the case, holding over $115 million secured debt obligations, the papers showed ...