Charlotte Russe Gets Ch. 11 Nod For $6.4M Asset Sale Plan

Law360 (March 27, 2019, 6:39 PM EDT) -- Women’s clothing retailer Charlotte Russe earned Delaware Bankruptcy Court approvals Wednesday for sales that will yield $6.4 million for the liquidating company, including transfers of intellectual property and store leases.

U.S. Bankruptcy Judge Mary F. Walrath approved without debate three agreements for the winding-down company, which had already received approvals for going-out-of-business sales that are expected to produce about $59 million.

Michael Klein of Cooley LLP, counsel to Charlotte Russe, told the judge that YM Inc. had agreed to pay $5 million for most of the company’s intellectual property and 100 of its leases in the largest of the transactions....

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