Nogin Enters Chapter 11 Proceedings; Operations Uninterrupted

Dow Jones2023-12-07

By Ben Glickman

Nogin has entered chapter 11 bankruptcy proceedings, part of a broader restructuring plan for the company.

The New York-based e-commerce technology company said B. Riley Financial was providing a stalking horse bid and debtor-in-possession financing. The company said B. Riley had exposure to Nogin through other investments.

Nogin said operations would continue as normal through the restructuring.

"Going forward, our financial structure will be aligned to properly support our growing business," said Nogin Chief Executive Jonathan Huberman. "We want to reassure our clients and partners that there will be no disruption in our services."

The company said the restructuring plan would reinforce Nogin's financial stability and allow for future growth.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 06, 2023 17:12 ET (22:12 GMT)

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