Iconic Brands, Inc.: going-concern / distress — Iconic Brands subsidiary TopPop LLC files Chapter 11; defaults on all debt

Iconic Brands, Inc.

TopPop LLC, a wholly-owned subsidiary, filed Chapter 11 Subchapter V on June 28, 2023 in E.D.N.Y. (Case No. 12-72310).
Bankruptcy filing constitutes an event of default under all of Iconic Brands' outstanding debt obligations.
No trading symbol listed; company's securities are not registered under Section 12(b).

item 1.03 item 2.04

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Iconic Brands, Inc. reported a default on debt.

Event: default

Exact text from the filing

The Bankruptcy Filing constitutes an event of default under all of the Company’s outstanding debt obligations.

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Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

Iconic Brands, Inc. entered chapter 11 in United States Bankruptcy Court for the Eastern District of New York (petition 2023-06-28).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Eastern District of New York
Petition: 2023-06-28

Exact text from the filing

On June 28, 2023, TopPop LLC, a wholly-owned subsidiary of Iconic Brands, Inc. (the “Company”), filed a voluntary petition for relief under Chapter 11, Subchapter V of 11 U.S.C. §§ 101 et seq. in the United States Bankruptcy Court for the Eastern District of New York, Case No. 12-72310 (the “Bankruptcy Filing”).

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Source: SEC EDGAR

accession 0001477932-23-004886

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