Case 20-32181-KLP Doc 758 Filed 08/13/20 Entered 08/13/20 13:37:05 Desc Main Document Page 1 of 7

Stephen A. Metz (VA Bar No. 89738) Offit Kurman, P.A. 4800 Montgomery Lane, 9th Floor Bethesda, MD 20814 Tel.: (240) 507-1723 | Fax: (240) 507-1735 [email protected] Counsel to , Inc. and affiliates

UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF VIRGINIA RICHMOND DIVISION ------x : In re : Chapter 11 : CHINOS HOLDINGS, INC., et al., : Case No. 20–32181 (KLP) : Debtors.1 : (Jointly Administered) : ------x

LIMITED OBJECTION AND RESERVATION OF RIGHTS OF SIMON PROPERTY GROUP, INC. TO DEBTORS’ NOTICE OF ASSUMPTION OR ASSIGNMENT AND CURE COSTS RELATING TO EXECUTORY CONTRACTS AND UNEXPIRED LEASES OF THE DEBTORS

Simon Property Group, Inc. and its affiliates (“Simon”), by its undersigned counsel respectfully

files this Limited Objection and Reservation of Rights with respect to the Debtors’ Notice of Assumption

or Assignment and Cure Costs Relating to Executory Contracts and Unexpired Leases of the Debtors

[Docket No. 667] (the “Cure Notice”), and in support thereof states as follows:

1. On May 4, 2020 (the “Petition Date”), Chinos Holdings, Inc. and its debtor affiliates

(collectively, “Debtors”) filed a voluntary petition for relief under Chapter 11 of the United States

Bankruptcy Code, 11 U.S.C. §101, et seq. (the “Bankruptcy Code”), thereby commencing Case No. 20-

1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, as applicable, are Chinos Holdings, Inc. (3834); Chinos Intermediate Holdings A, Inc. (3301); Chinos Intermediate, Inc. (3871); Chinos Intermediate Holdings B, Inc. (3244); J. Crew Group, Inc. (4486); J. Crew Operating Corp. (0930); Grace Holmes, Inc. (1409); H.F.D. No. 55, Inc. (9438); J. Crew Inc. (6360); J. Crew International, Inc. (2712); J. Crew Virginia, Inc. (5626); Madewell Inc. (8609); J. Crew Brand Holdings, LLC (7625); J. Crew Brand Intermediate, LLC (3860); J. Crew Brand, LLC (1647); J. Crew Brand Corp. (1616); J. Crew Domestic Brand, LLC (8962); and J. Crew International Brand, LLC (7471). The Debtors’ corporate headquarters and service address is 225 Liberty St., , NY 10281.

Case 20-32181-KLP Doc 758 Filed 08/13/20 Entered 08/13/20 13:37:05 Desc Main Document Page 2 of 7

32181-KLP (the “Bankruptcy Case”) in this Court. By Order Pursuant to Fed. R. Bankr. P. 1015(b)(I)

Directing Joint Administration of Chapter 11 Cases, and (II) Granting Related Relief entered in the Bankruptcy

Case on May 5, 2020 [Docket No. 7], the Bankruptcy Case has been consolidated for procedural purposes

only with seventeen other affiliated cases under the above-captioned jointly administered case. The Debtor

and its affiliated debtor entities remain in the control and possession of their respective assets and business

as debtors in possession pursuant to sections 1107 and 1108 of the Bankruptcy Code.

2. As of the Petition Date, the Debtors were lessee under one hundred twenty-nine (129)

leases of non- residential real property with Simon (individually, “Lease” or collectively, “Leases”).

3. On or about August 12, 2020, Simon and Debtors entered into a tentative deal that is

conditioned upon, and shall become effective upon the later of (i) execution of a Master Agreement by both

parties, and (ii) the entry of a final order by the Bankruptcy Court approving the assumption and assignment

of each and every one of the Leases, or a final order by the Bankruptcy Court approving a Plan and the

assumption of Leases.

4. In the instance that the Debtors do not meet such conditions identified in paragraph 3

herein, Simon reserves its rights with regards to cure amounts for each Lease as set forth on Exhibit “A”,

attached hereto, its attorney fees and any charges accrued under the Leases, but not yet billed, including but

not limited to common area maintenance, real estate taxes, utilities, overage rent and/or percent rent.

5. Simon reserves the right to supplement this Limited Objection prior to a final

determination by the Court regarding assumption and assignment of the Leases, including the amount

and payment required for purposes of cure under Section 365, as rent, attorneys’ fees and other charges

continue to accrue.

6. To the extent that it does not conflict with anything stated herein, Simon Property Group,

Inc. joins in the objections filed by Debtors’ other landlords.

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Wherefore, Simon hereby objects to the Cure Notice and reserves all rights and remedies in the

instance the Debtors plan is not confirmed and Debtors fail to assume and assign the Leases. In such

instance, Simon respectfully requests that the Court enter an order requiring Debtors’ payment, including,

but not limited to, the amounts required to cure outstanding defaults under the Lease, reasonable

attorneys’ fees incurred in connection with this Limited Objection, and other charges that continue to

accrue.

Dated: August 13, 2020 /s/ Stephen A. Metz Stephen A. Metz (VA Bar No. 89738) Offit Kurman, P.A. 4800 Montgomery Lane, 9th Floor Bethesda, MD 20814 Tel.: (240) 507-1723 | Fax: (240) 507-1735 [email protected] Counsel to Simon Property Group, Inc. and affiliates

and

/s/ Joyce A. Kuhns Joyce A. Kuhns Esq. (Admitted Pro Hac Vice) Offit Kurman, P.A. 300 East Lombard Street, Suite 2010 Baltimore, MD 21202 Tel.: (410) 209-6463 [email protected] Counsel to Simon Property Group, Inc. and affiliates

CERTIFICATE OF SERVICE

THE UNDERSIGNED HEREBY CERTIFIES that, on this 13th day of August, 2020, he caused

the foregoing to be electronically filed with the Clerk of the Court using the ECF system that will send

notification of such filing to all parties receiving notice in this case.

/s/ Stephen A. Metz Stephen A. Metz

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EXHIBIT A

Project # Property Lease Lease End Unit Store # Total Cure Amount 5350 ABQ Uptown J. Crew 1/31/2023 10N 0789 $ 22,357.61 7848 Allen Premium Outlets J. Crew Factory Store 1/31/2029 0644A 0062 $ 45,614.75 5201 J. Crew 1/31/2021 480 0090 $ 32,368.04 145 J. Crew 1/31/2021 H06 0686 $ 36,893.20 7961 Birch Run Premium Outlets J. Crew Factory Store 1/31/2020 V026 0009 $ 25,813.16 5240 J. Crew 1/31/2021 G116 0566 $ 10,154.41 4822 Burlington Mall J. Crew 1/31/2021 1200 0719 $ 88,112.40 4822 Burlington Mall Madewell 1/31/2025 1042A 1209 $ 58,268.00 7846 Camarillo Premium Outlets J. Crew Factory Store 1/31/2021 744 0065 $ 43,503.08 4919 J. Crew 1/31/2021 N155B 0574 $ (4,547.72) 7883 Carolina Premium Outlets J. Crew Factory Store 2/28/2022 1010 0113 $ 26,641.91 8041 Charlotte Premium Outlets J. Crew Factory Store 1/31/2025 840 0148 $ 36,394.96 7849 Chicago Premium Outlets J. Crew Factory Store 1/31/2026 1360 0055 $ 78,489.04 7924 Cincinnati Premium Outlets J. Crew Factory Store 1/31/2020 852 0098 $ 25,289.78 8057 Clarksburg Premium Outlets J. Crew Factory Store 1/31/2028 536 1033 $ 35,981.36 7850 Clinton Crossing Prem Outlets J. Crew Factory Store 1/31/2025 0300A 0064 $ 62,162.98 4696 J. Crew 1/31/2021 M03 0690 $ 36,776.63 5204 J. Crew 1/31/2025 247 0158 $ 19,915.91 5207 J. Crew 1/31/2025 324A 0157 $ 25,125.03 7611 J. Crew 1/31/2021 F008 0790 $ 79,076.02 7611 Copley Place J. Crew Men's 1/31/2023 J015B 0764 $ 31,818.66 7611 Copley Place The Ludlow Shop 3/31/2021 J011 0542 $ 30,007.98 5243 Del Amo J. Crew 1/31/2026 418 0824 $ 7,688.83 5243 Madewell 1/31/2026 424 1236 $ 6,330.61 7853 Desert Hills Premium Outlets J. Crew Factory Store 1/31/2021 330 0031 $ 48,869.95 7963 Ellenton Premium Outlets J. Crew Factory Store 1/31/2021 100 0070 $ 26,754.92 1116 Fashion Ctr at Pentagon City J. Crew 3/31/2020 0F10B 601 $ 85,989.25 2111 Fashion Mall at Keystone J. Crew 1/31/2021 158 0527 $ 89,592.61 2111 Fashion Mall at Keystone Madewell 1/31/2023 150C 0263 $ 33,820.61 4645 Fashion Valley Madewell 1/31/2024 820 0276 $ 52,095.94 7965 Gaffney Outlet Marketplace J. Crew Factory Store 1/31/2020 500 0094 $ 21,623.34 7857 Gilroy Premium Outlets J. Crew Factory Store 1/31/2020 C210 0025 $ 45,903.25 8038 Gloucester Premium Outlets J. Crew Factory Store 1/31/2026 830 0185 $ 43,093.35 7956 Grand Prairie Premium Outlets J. Crew Factory Store 1/31/2023 535 0099 $ (3,846.92) Project # Property Lease Lease End Unit Store # Total Cure Amount 5211 J. Crew Factory Store 1/31/2021 202 0075 $ 29,819.04 5250 Great Mall J. Crew 1/31/2021 528 0127 $ 46,534.99 7967 Grove City Premium Outlets J. Crew Factory Store 1/31/2025 1005 0045 $ 36,419.89 7968 Gulfport Premium Outlets J. Crew Factory Store 1/31/2020 605 0095 $ 20,195.33 4

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7969 Hagerstown Premium Outlets J. Crew Factory Store 1/31/2021 275 0051 $ (38,863.20) 7621 Houston Galleria J. Crew 1/31/2021 B8010 0523 $ (159,104.03) 7623 Houston Galleria IV Madewell 1/31/2024 7090 0271 $ 25,339.79 7909 Houston Premium Outlets J. Crew Factory Store 1/31/2021 1000 0109 $ 42,052.01 7854 Premium Outlets J. Crew Factory Store 1/31/2021 H020 0058 $ (35,019.05) 7858 Jackson Premium Outlets J. Crew Factory Store 1/31/2021 208 0048 $ 34,906.05 7859 Jersey Shore Premium Outlets crewcuts Factory 1/31/2021 871 0087 $ 11,231.47 7859 Jersey Shore Premium Outlets J. Crew Factory Store 1/31/2021 475 0110 $ 81,375.46 5217 J. Crew Factory Store 1/31/2022 246 0068 $ 89,848.51 7703 King of Prussia The Plaza J. Crew 1/31/2021 1190 0530 $ 176,742.62 7703 King of Prussia The Plaza Madewell 1/31/2020 1184A 0231 $ 41,717.19 7861 Kittery Premium Outlets_KIT J. Crew Factory Store 1/31/2021 K130A 0010 $ 66,988.23 7926 Las Americas Premium Outlets J. Crew Factory Store 1/31/2021 436 0057 $ 1,947.53 7864 Las Vegas North Prem Outlets J. Crew Factory Store 1/31/2021 2001 0074 $ 33,165.16 7973 Lee Premium Outlets J. Crew Factory Store 1/31/2021 H390 0046 $ 35,821.17 7865 Leesburg Premium Outlets J. Crew Factory Store 1/31/2023 473 0052 $ 54,759.52 4827 J. Crew 1/31/2024 3080A 519 $ 193,903.51 4827 Lenox Square Madewell 1/31/2021 3005A 0220 $ 63,052.66 7867 Lighthouse Place Prem Outlets J. Crew Factory Store 1/31/2022 G010 0017 $ 23,782.11 7932 Merrimack Premium Outlets J. Crew Factory Store 1/31/2023 335 0114 $ 39,588.07 7868 Napa Premium Outlets J. Crew Factory Store 1/31/2025 867 0030 $ 39,260.09 7871 North Georgia Premium Outlets J. Crew Factory Store 1/31/2021 145 0056 $ 23,943.74 4923 J. Crew 1/31/2021 E196A 0525 $ (120,798.20) 5218 J. Crew 1/31/2020 839D 0097 $ 33,199.76 5221 J. Crew 1/31/2023 660 0089 $ 32,885.78 7976 Orlando Intl Prem Outlets J. Crew Factory Store 1/31/2021 1.00E+05 0077 $ 33,160.68 7879 Orlando Vineland Prem Outlets J. Crew Factory Store 1/31/2021 1599 0078 $ 105,768.48 7872 Osage Beach Outlet Marketplace J. Crew Factory Store 1/31/2021 BB2 0063 $ 5,420.36 7603 J. Crew 1/31/2021 1033A 1208 $ (18,126.93) 7603 Penn Square Mall Madewell 1/31/2026 1026A 0638 $ 23,763.16 7876 Philadelphia Premium Outlets J. Crew Factory Store 1/31/2021 1013 0073 $ 53,094.76 Project # Property Lease Lease End Unit Store # Total Cure Amount 8003 Phoenix Premium Outlets J. Crew Factory Store 1/31/2024 514 0147 $ 34,187.15 7979 Pleasant Prairie Prem Outlets J. Crew Factory Store 1/31/2021 B045 0002 $ 60,778.78 5227 J. Crew 1/31/2021 735A 0107 $ 33,610.03 7981 Queenstown Premium Outlets J. Crew Factory Store 1/31/2021 C039 0084 $ 26,488.37 4835 J. Crew 1/31/2021 2059 0653 $ 12,921.15 4836 Roosevelt Field J. Crew 1/31/2021 2038 0259 $ 10,476.61 4836 Roosevelt Field Madewell 1/31/2023 2037 0520 $ 39,030.48 3107 J. Crew 1/31/2021 0K04B 0260 $ (51,554.02) 3107 Ross Park Mall Madewell 1/31/2023 0C05 0597 $ 34,958.29

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7878 Round Rock Premium Outlets J. Crew Factory Store 1/31/2021 539 0061 $ 27,215.83 7957 San Francisco Premium Outlets J. Crew Factory Store 1/31/2023 885 0096 $ 37,072.51 7982 San Marcos Premium Outlets J. Crew Factory Store 1/31/2021 1330 0024 $ 20,171.12 5229 J. Crew Factory Store 1/31/2024 1015 0039 $ 74,575.24 7881 Seattle Premium Outlets J. Crew Factory Store 1/31/2021 208 0054 $ 40,448.17 8009 Silver Sands Prem Outlets I crewcuts Factory 1/31/2021 5 91 $ 9,495.23 8009 Silver Sands Prem Outlets I J. Crew Factory Store 1/31/2023 15 19 $ 48,363.32 4838 J. Crew 1/31/2021 1066 0552 $ 8,570.26 5259 J. Crew 1/31/2021 1135 0528 $ 47,545.71 5259 Southdale Center Madewell 1/31/2023 1562 0266 $ 32,465.41 7605 SouthPark J. Crew 1/31/2021 C02 0544 $ 93,574.53 7605 SouthPark Madewell 7/31/2024 E04B 0237 $ 50,330.73 7884 St. Augustine Premium Outlets J. Crew Factory Store 1/31/2022 1005 0027 $ 35,052.42 4693 St. Johns Town Center 1 J. Crew 1/31/2021 P11 0675 $ 38,064.53 4761 St. Johns Town Center 2 Madewell 1/31/2025 V07 0291 $ 29,251.55 8008 St. Louis Premium Outlets J. Crew Factory Store 1/31/2024 203 0138 $ 4,435.48 4692 J. Crew 1/31/2027 1020 0538 $ 94,670.61 4692 Stanford Shopping Center Madewell 1/31/2028 180A 1225 $ 47,907.98 9570 J. Crew 1/31/2023 152A 0780 $ 33,647.61 7913 Tampa Premium Outlets J. Crew Factory Store 1/31/2026 975 0141 $ 27,356.14 7852 The Crossings Premium Outlets J. Crew Factory Store 1/31/2021 E04 0023 $ 25,448.24 4735 The Domain J. Crew 1/31/2021 K02 0687 $ 55,402.96 4735 The Domain Madewell 1/31/2028 K06 0215 $ 48,002.37 7601 The Shops at Chestnut Hill J. Crew 1/31/2023 N121A 0782 $ 84,855.01 7601 The Shops at Chestnut Hill Madewell 1/31/2024 S105A 0279 $ 39,513.88 9180 The Shops at Mission Viejo J. Crew 1/31/2021 548A 1235 $ 27,686.79 Project # Property Lease Lease End Unit Store # Total Cure Amount 9180 The Shops at Mission Viejo Madewell 1/31/2026 834D 0577 $ 29,547.92 4830 J. Crew 1/31/2024 8111 0795 $ (4,475.01) 5257 J. Crew 1/31/2021 237A 0553 $ (221,758.89) 4676 J. Crew 1/31/2021 3090A 0560 $ 110,011.59 4676 The Westchester Madewell 1/31/2022 2860C 0257 $ 63,088.60 4839 Town Center at Boca Raton J. Crew 1/31/2021 1139 0541 $ 32,250.40 8056 Twin Cities Premium Outlets J. Crew Factory Store 1/31/2025 610 0143 $ 32,587.76 9710 J. Crew 1/31/2023 320A 0785 $ 31,114.39 5054 University Park Village J. Crew 1/31/2022 D503 0272 $ (20,289.01) 5054 University Park Village Madewell 1/31/2023 D502 0774 $ (7,055.24) 7885 Vacaville Premium Outlets J. Crew Factory Store 1/31/2021 332 0066 $ 23,269.79 4841 J. Crew 1/31/2021 1015 0563 $ (65,554.68) 4841 Walt Whitman Shops Madewell 1/31/2020 1045A 0232 $ 47,991.66 7887 Waterloo Premium Outlets J. Crew Factory Store 1/31/2021 A054 0044 $ 27,976.25

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7985 Williamsburg Premium Outlets J. Crew Factory Store 1/31/2025 E090 0004 $ 51,578.47 7888 Woodbury Common Prem Outlets J. Crew Factory Store 1/31/2023 460 0022 $ 188,325.68 7607 J. Crew 1/31/2021 0127A 0628 $ 18,188.94 7889 Wrentham Village Prem Outlets J. Crew Factory Store 1/31/2023 410 0053 $ 91,834.71 7889 Wrentham Village Prem Outlets J. Crew Men's 1/31/2025 475 0169 $ 35,750.63 $ 4,178,313.07

4812-0731-3607, v. 1

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