RoomStore Finds Buyer for Ten Texas Locations
A Furniture Today article said that bankrupt retailer RoomStore Inc. has found a buyer for its ten Texas locations. Rooms To Go will pay about $2 million for the locations, the article said.
A Furniture Today article said that bankrupt retailer RoomStore Inc. has found a buyer for its ten Texas locations. Rooms To Go will pay about $2 million for the locations, the article said.
Levine Leichtman Capital Partners will act as the stalking-horse bidder in the sale of substantially all of DRI’s businesses and assets.
Hogan Lovells announced that it is expanding its U.S. Business Restructuring and Insolvency practice with the addition of Peter Ivanick as a partner in New York. Ivanick will also be working closely with the Corporate and Regulatory Insurance practices.
Paragon Capital Partners announced that it advised in the sale of substantially all of the operating assets of Hartford Computer Group and its subsidiary Nexicore Services to Avnet, through a section 363 sale process in the U.S. Bankruptcy Court in Chicago.
According to court documents, The RoomStore is planning to close its remaining Texas stores as it continues restructuring under Chapter 11 bankruptcy protection.
Trailer Bridge emerged from Chapter 11 proceedings. Some of the majority noteholders, including SEACOR Holdings and Whippoorwill Associates provided $31.5 million in exit financing as part of the company’s plan.
Pinnacle Airlines and its subsidiaries have filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. Pinnacle has received a commitment for secured super-priority DIP financing from Delta Air Lines.
Ener1 has completed its financial restructuring and successfully emerged from Chapter 11 bankruptcy as a privately held company. The company restructured its long-term debt and secured an infusion of up to $86 million of new equity funding.
AFA Foods announced that, given recent changes in the market for its ground beef products and the impact of media coverage related to Boneless Lean Beef Trimmings, which has commonly become known as pink slime, the company filed for Chapter 11. Current lenders, GE Capital and Bank of America will provide DIP financing.
Cagle’s is seeking permission from the U.S. Bankruptcy Court in the Northern District of Georgia to sell all of its assets at an auction after accepting a bid from JCG Foods for $72.3 million.