Bankrupt Hardware Chain Orchard Can Hold Liquidation Sales

Law360, Wilmington (June 28, 2013, 7:35 PM ET) -- A Delaware bankruptcy judge gave the nod Friday for Orchard Supply Hardware Stores Corp. to hold going-out-of-business sales at eight locations to bring in cash that could help fund its strategy to sell the bulk of its stores to Lowe's Cos. Inc., which entered a $205 million stalking horse bid.

The agreement to run the liquidation sales went to Great American Group WF LLC, which put in the winning bid at auction with terms where Orchard would be guaranteed an 82.5 percent cut of the proceeds....
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