Debevoise & Plimpton LLP has advised an ad hoc group of lenders consisting of Brigade Capital Management, Arbour Lane Capital Management, and Anchorage Capital Advisors, in connection with a restructuring transaction of Gabriel Brothers, Inc. (“Gabe’s”) which closed on August 25, 2025. Founded in 1961 in Morgantown, West Virginia, Gabe's is a leading off-price retailer with more than 150 stores across 20 U.S. states.

Pursuant to the restructuring, the ad hoc group of lenders that Debevoise represented are now the majority owners of Gabe’s. The restructuring significantly delevered Gabe’s balance sheet, avoided disruptive insolvency proceedings, enhances liquidity, and positions Gabe’s for long-term operational stability under the stewardship of the ad hoc group and the other new equityholders.

The Debevoise team included restructuring partners Sidney Levinson and Nick Kaluk, and associates Mitch Carlson and Shefit Koboci, finance partner Scott Selinger, counsel Jonathon Yeung and associates Matthew Sacco, Alexander Wiener, and Sophie Mirzaian, M&A partner Andrew Bab and associate Candice Jones, tax partner Rafael Kariyev and associate Sabrina Hsieh, capital markets partner Paul Rodel and associates Alice Gu and Grace Li, insurance counsel Keith Slattery, and real estate associates Alexander Djaha and Melina Welman.

For more information about the restructuring, please see the company’s press release.