United Retail Group's Ch. 11 Plan Confirmed After Sale

Law360, New York (September 18, 2012, 2:51 PM EDT) -- A New York bankruptcy judge on Tuesday confirmed a Chapter 11 plan for Redcats USA Inc.'s high-end women's clothing retailer United Retail Group Inc. following a Versa Capital Management LLC unit's April purchase of its assets in a Section 363 sale.

U.S. Bankruptcy Judge Stuart M. Bernstein confirmed the plan, which calls for the liquidation of what's left of the debtor after the sale to Versa affiliate Ornatus URG Acquisition LLC, a sale that created a new company called Avenue Stores LLC.

“The debtors, as the...
To view the full article, register now.