AP NEWS

CORRECTING and REPLACING WIS Holding Files Chapter 11 Protection

July 5, 2018

WILMINGTON, Del.--(BUSINESS WIRE)--Jul 5, 2018--Second line of subhead of release dated July 3, 2018 should begin: Retail Services WIS Corporation (instead of WIS Corporation).

In addition, second paragraph, second sentence should read: Retail Services WIS Corporation and its subsidiaries, collectively operating under the WIS International trade name did not file for bankruptcy and are not debtors in the WIS Holding Company bankruptcy process. (instead of WIS Corporation and its subsidiaries operating under the Washington Inventory Services trade name did not file for bankruptcy and are not debtors in the WIS Holding Company bankruptcy process.).

Also, third paragraph, first sentence should begin: WIS Holding Company (instead of WIS Holdings).

The corrected release reads:

WIS HOLDING FILES CHAPTER 11 PROTECTION

Filing Follows 2017 Sale of Assets to Retail Services WIS Corporation

Retail Services WIS Corporation and Its Subsidiaries Not Debtors in Chapter 11 Proceedings

WIS Holding Company, Inc. and its affiliates have filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court, District of Delaware, for an orderly liquidation of the company’s assets. As of the filing on July 2, 2018, WIS Holding Company and its subsidiaries had no ongoing operations or employees.

In June 2017, WIS Holding Company sold substantially all of its assets to Retail Services WIS Corporation, which is sponsored by Centre Lane Partners. Retail Services WIS Corporation and its subsidiaries, collectively operating under the WIS International trade name did not file for bankruptcy and are not debtors in the WIS Holding Company bankruptcy process.

WIS Holding Company and its operating subsidiaries provided outsourced physical inventory verification and retail merchandising services throughout the United States and internationally. It provided these services to a diverse customer base through 189 offices in 42 U.S. states and nine Canadian provinces. As one of only two providers with a global platform, the company completed more than 200,000 inventory counts annually in past years.

The cases have been assigned to the Honorable Christopher S. Sontchi. JND Corporate Restructuring has been retained as the claims and noticing agent. For additional information, please visit https://www.jndla.com/cases/wisholdingcompany.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180703005647/en/

CONTACT: Potter Anderson & Corroon

Jeremy Ryan, 302.984.6108

KEYWORD: UNITED STATES NORTH AMERICA DELAWARE

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT RETAIL

SOURCE: JND Legal Administration

Copyright Business Wire 2018.

PUB: 07/05/2018 02:57 PM/DISC: 07/05/2018 02:57 PM

http://www.businesswire.com/news/home/20180703005647/en

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