Scooter Store Gets Nod To Continue Ch. 11 Under Own Power
By Jamie Santo
Law360, Wilmington (July 31, 2013, 10:43 PM ET) -- A Delaware bankruptcy judge Wednesday gave Scooter Store Holdings Inc. the green light to tap its cash collateral, allowing the private equity-controlled scooter seller to proceed with its new plan to pay its own way in Chapter 11 while it seeks a suitor.
The Scooter Store entered court protection after lining up a $10 million debtor-in-possession package, but determined that it can save money and buy additional time to land a purchaser by funding the case itself.
The request to use cash collateral represents the second...