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Rockport Hits Ch. 11, Plans To Sell Wholesale Business

Law360, Wilmington (May 14, 2018, 7:28 PM EDT) -- Comfort footwear maker The Rockport Company LLC filed for Chapter 11 protections Monday in Delaware, listing $287 million of funded debt obligations and planning a sale of its global wholesale and e-commerce assets that will likely leave its retail operations on the chopping block.

In a first-day declaration, interim Chief Financial Officer Paul Kosturos said an extensive prepetition marketing effort resulted in a $150 million stalking horse offer from CB Marathon Opco LLC that does not include Rockport’s North American retail assets at the moment, leaving...
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