- Pandora Marketing LLC Continues to Serve Customers During Voluntary Chapter 11 Reorganization -

PR Newswire
Tuesday, February 27, 2024 at 8:47pm UTC

- Pandora Marketing LLC Continues to Serve Customers During Voluntary Chapter 11 Reorganization -

PR Newswire

ALISO VIEJO, Calif., Feb. 27, 2024 /PRNewswire/ -- Pandora Marketing, LLC, a leading timeshare contract resolution marketing company, entered into Chapter 11 Reorganization on January 31, 2024 in the U.S. Bankruptcy Court in Missouri after the cost of its litigation against timeshare behemoths Wyndham, Bluegreen Vacations, and Diamond reached record highs.

During this transition, Pandora Marketing will continue its commitment to customers with their timeshare exit goals despite major developers continuing to attempt to stop Pandora's efforts to help clients. Pandora's legal team has achieved resolution for thousands of clients. In October 2023, Pandora succeeded in decreasing a $1.5 million federal lawsuit by large developer Bluegreen to only $100,000 and achieved relief for 800 clients from their timeshare burden.

Although Pandora's legal team considers this a victory, the costs of trial were more than Pandora could cover along with the other two cases against two other timeshare giants. "The Company made a difficult but necessary decision to build on previous actions to manage costs and overcome these massive litigation expenses by filing for voluntary chapter 11 protection," said Rich Folk, Co-Trustee. Through this filing, Pandora Marketing intends to safeguard its business, customers, employees, and goodwill while improving its business practices through reorganization and assessment within all departments.

Senior leadership has long determined that Pandora can complete chapter 11 without disrupting operations, and the entire team has already implemented its plan to service its customers while handling go-forward commitments to its employees and vendors. "The Company remains steadfast in its commitment to deliver the same innovative solutions that empower our customers to successfully resolve their timeshare contract," said Folk.

"We have all been working diligently since filing [for chapter 11] to improve our cash position by scaling down, getting lean, and focusing on our most impactful business lines," said Bo Wilson, Co-Trustee. "Our problem was never a matter of sales. The only problem Pandora has had is the cost of litigation. The plaintiffs seem to all have the same strategy of trying to put us out of business, and they seem to share informational resources in spite of pretending to be economic rivals when it comes to Pandora."

Additional information on the Company's chapter 11 case can be found at PandoraMarketing.org.

Pandora is advised in this matter by Seth Shumaker, Attorney at Law, senior bankruptcy advisor.

About Pandora

Pandora is a leading timeshare resolution marketing company trusted by thousands of timeshare owners seeking to resolve their timeshare contract. We aim to provide consumer advocacy and actionable answers to for individuals and their families with the overall goal of improving the timeshare industry. Pandora's team of consumer advocates are committed to educating and informing timeshare owners of their rights as consumers.

Safe Harbor Statements

Certain statements made in this press release, including, but not limited to, statements about Pandora's continued operation of the business as "debtors-in-possession"; Pandora's ability to pay its current obligations when due and satisfy its continuing obligations, including, but not limited to, employee benefits and wages, vendors and suppliers of goods and services, and insurance and tax obligations; Pandora's expectation that the transactions contemplated by the chapter 11 cases are consummated by the Bankruptcy Court according to the terms outlined in the TSA, and that the transactions result in significant reduction of its debt balance; and any assumptions underlying any of the foregoing may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: risks and uncertainties regarding Pandora's ability to successfully consummate and complete a plan of reorganization under chapter 11; Pandora's ability to continue operating in the ordinary course while the chapter 11 cases are pending; potential adverse effects of the chapter 11 cases on Pandora's business, financial condition, liquidity and results of operations; Pandora's ability to obtain timely approval by the Bankruptcy Court with respect to the motions filed in the chapter 11 cases; objections to Pandora's recapitalization process or other pleadings filed with the Bankruptcy Court that could protract the chapter 11 cases; employee attrition and Pandora's ability to retain senior management and other key personnel due to the distractions and uncertainties caused by the chapter 11 cases; Pandora's ability to improve its liquidity and long-term capital structure and to address its debt service obligations through the restructuring; Pandora's ability to comply with the restrictions imposed by the terms and conditions of the potential financing arrangements; Pandora's ability to effectively implement its strategic initiatives; Pandora's liquidity needs to operate its business and execute its strategy, and related use of cash; Pandora's ability to maintain relationships with suppliers, customers, employees, regulatory authorities and other third parties as a result of the chapter 11 cases; the effects of the restructuring and the chapter 11 cases on Pandora and on the interests of various constituents, including holders of Pandora's common stock; the Bankruptcy Court's rulings in the chapter 11 cases, including the approvals of the terms and conditions of any plan of reorganization and the outcome of the chapter 11 cases, generally; the length of time that Pandora will operate under chapter 11 protection and the continued availability of operating capital during the pendency of the chapter 11 cases; risks associated with third-party motions in the chapter 11 cases, which may interfere with Pandora's ability to consummate a plan of reorganization or an alternative restructuring; increased administrative and legal costs related to the chapter 11 process; and other litigation and inherent risks involved in a bankruptcy process. Forward-looking statements speak only as of the date they are made. Pandora undertakes no duty or obligation to update or revise these forward-looking statements, whether as a result of new information, future developments, or otherwise, except as required by law.

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SOURCE Timeshare Compliance