Daily News: July 23, 2012

Syms Seeks Approval to Hold Auction for Florida Property

Syms Corp. and its subsidiary, Filene’s Basement, are requesting permission in the U.S. Bankruptcy Court in the District of Delaware to sell its Miami, FL property at an auction slated for August 14, a Bloomberg article said.

The opening bid is set at $4.5 million for the property. Independent Living Systems was named the stalking-horse bidder. Syms is asking the court to approve the bidding procedures at a hearing on July 31. A hearing to approve a potential sale is slated for August 16, the article said.

To read the Bloomberg article, click here.

Previously on abfjournal.com:

Court Approves Syms, Filene’s Basement Disclosure Statement, Monday, July 16, 2012