Nine West Holdings Inc. unveiled Wednesday an amended restructuring plan that settles potential lawsuits against private-equity owner Sycamore Partners LP for $105 million in cash, far less than the amount the unsecured creditors committee is seeking, WSJ Pro Bankruptcy reported. Nine West reached the settlement with Sycamore Partners, minority owner KKR Credit Advisors (US) LLC, and its secured and unsecured term loan holders, according to the plan filed on Wednesday in the U.S. Bankruptcy Court in New York. But the new plan doesn’t have the support of the retailer’s unsecured creditors committee, which earlier this week sought the court’s permission to pursue its own lawsuits against Sycamore Partners for more than $1 billion in damages. Nine West said that the new plan has garnered the support of 80 percent of the company’s unsecured term loan holders and 85 percent of its secured debt holders.
