💥New Chapter 11 Bankruptcy Filing - Nogin Inc. 💥

Commerce-as-a-Service provider intends to sell to B.Riley.

On December 5, 2023, NY-based Nogin Inc., Nogin Commerce Inc. and Native Brands Group LLC (collectively, the “company” or the “debtors”) filed chapter 11 bankruptcy cases in the District of Delaware (Judge Goldblatt). The debtors are — ⚡️wait for it⚡️— yet ANOTHER busted deSPAC to soil our precious bankruptcy dockets. If there’s one thing we love more than deSPAC sh*tco bankruptcies it’s deSPAC sh*tco bankruptcies that list professional services firms as the top general unsecured creditors, LOL. Looks like some folks at Jefferies, Stifel and Latham & Watkins are gonna take a solid hit on the ol’ noggin. 😜

They wouldn’t be alone. There’s also shareholders. Check it: