Tropicana lenders tap Gibson ahead of forecasted liquidity squeeze
23rd December 2024 10:22 AM
An ad hoc group of first lien lenders to Tropicana Brands Group, also known as Naked Juice, has engaged Gibson Dunn for legal advice, said two sources familiar with the matter.
Gibson’s appointment follows a stretch of weak performance by PAI Partners-backed Tropicana and increased concerns from lenders about its liquidity position ahead of payments owed to minority owner PepsiCo, said one of the sources.