Versa Plucks Hair Removal Chain Out Of Ch. 11 For $40M

Law360, Wilmington (January 31, 2012, 2:26 PM EST) -- American Laser Centers LLC won a Delaware bankruptcy judge's blessing on Tuesday to sell its assets to private equity lender Versa Capital Management LLP for $39.5 million, after a planned auction failed to turn up additional bids.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the sale at a court hearing, where the laser hair removal chain said it had allayed the concerns of its unsecured creditors' committee over a wind-down budget for the case and that Versa had reached a new equipment supply agreement...
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