Jane Files for Business Reorganization under Chapter 11

BALTIMORE, MD (MMD Newswire) April 7, 2009 -- Jane & Company a Delaware Limited Liability Company and Jane & Co., Inc. a Delaware Corporation (collectively "Jane"), an established national cosmetics provider, today filed individual petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in Wilmington Delaware. The bankruptcy filing was necessary due to significant cash liquidity issues faced by Jane arising from the economic crisis that affected retail customers nationwide. Jane has successfully obtained a debtor-in-possession financing commitment from its senior secured lender that will provide funds necessary to continue operating Jane's cosmetic distribution business during the chapter 11.

Jane's quality cosmetic lines fill a niche between value and more expensive cosmetic brands. Its corporate headquarters and operations are located in Baltimore, Maryland. Jane has annual revenues of approximately $25 million. Chapter 11 will allow Jane to operate its business as a debtor-in-possession while it seeks a sale of Jane and/or its assets or another alternative exit strategy.

Drew McManigle has been named Chief Restructuring Officer (CRO) and is leading Jane's business reorganization efforts. Derek C. Abbott and Daniel B. Butz of the Wilmington law firm of Morris, Nichols, Arsht & Tunnell, LLP, represent the debtors-in-possession.

For additional information about Jane and its business reorganization, please contact Drew McManigle C/o Jane & Co. LLC, 9611 Pulaski Park Drive, Baltimore Maryland 21220. The main phone number is: (410) 780-7470.

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