Bankrupt Orchard Gets OK For $205M Sale To Lowe's

Law360, Wilmington (August 20, 2013, 9:47 PM EDT) -- A Delaware bankruptcy judge on Tuesday blessed Orchard Supply Hardware Stores Corp.'s $205 million deal to sell the bulk of its assets to industry giant Lowe's Home Improvement LLC, which will acquire 72 home and garden stores from the California chain.

Lined up as a stalking horse when Orchard Supply entered Chapter 11, Lowe's was named the winning bidder earlier this month after rival offers failed to materialize.

Two parties expressed interest in the planned auction but said they would not be able to top Lowe's...
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