Syms, Filene's Get Green Light For Liquidation

Law360, Wilmington (November 15, 2011, 7:36 PM EST) -- A Delaware bankruptcy judge on Tuesday cleared Syms Corp. and Filene’s Basement LLC to conduct going-out-of-business sales at the clothing retailers’ 46 stores and use the proceeds to pay off $31 million in secured debt.

U.S. Bankruptcy Judge Kevin J. Carey said at a court hearing that he would sign off on the agreement with the liquidators — Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC — after the debtors amend the order to reflect the resolution of objections from unsecured creditors, certain state...
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