United Retail Set For Auction With Stalking Horse Bid

Law360, New York (February 22, 2012, 8:02 PM EST) -- Plus-size women's clothing retailer United Retail Group Inc. is set to sell itself after a New York bankruptcy judge approved sale procedures Wednesday, following a contentious hearing over whether the proposed sale unfairly benefits would-be buyer Versa Capital Management LLC.

Attorneys for the debtor, Versa and the official committee of unsecured creditors painstakingly hashed out dates for an auction and a sale hearing before U.S. Bankruptcy Judge Stuart M. Bernstein, although Versa expressed concern that its stalking horse bid was not adequately protected due to the...
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