Anchor Blue Outlets Sale Gets Go-Ahead

Law360, New York (June 15, 2009, 12:00 AM EDT) -- Despite objections from the U.S. trustee overseeing the Chapter 11 proceedings of clothing retailer Anchor Blue Retail Group Inc., a judge has paved the way for Levi Strauss & Co. to snap up 72 of the bankrupt chain’s outlet stores.

Judge Peter Walsh of the U.S. Bankruptcy Court of Delaware on Friday approved the debtor’s bidding procedures for the stores, noting that Anchor Blue had “articulated good and sufficient reason” for the sale to proposed stalking horse bidder Levi’s.

The order approved the bidding procedures and...
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