Sur La Table Gets OK For Quick Road To Ch. 11 Auction

Law360 (July 10, 2020, 7:49 PM EDT) -- A New Jersey bankruptcy judge on Friday gave his nod to Sur La Table's request for a quick auction timeline in its Chapter 11 case, noting the extensive effort the Seattle-based kitchenware retailer undertook to secure a $61 million stalking horse bid from Fortress Investment Group.

During a first-day hearing, U.S. Bankruptcy Judge Michael B. Kaplan said that he'd sign off on an Aug. 3 due date for bids that would compete with Fortress, which has agreed to provide $3 million in debtor-in-possession financing as the retailer grapples with more than $100 million in liabilities and plans to close nearly half...

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