Bankrupt Grocer Plans $41.5M Property Sale To Fortress Unit

Law360, New York (November 14, 2013, 6:18 PM EST) -- With Yucaipa Cos. LLC waiting to snap up Fresh & Easy Neighborhood Market at auction, the bankrupt grocery chain said Wednesday it hopes to ditch 53 other properties in a $41.5 million sale to a Fortress Investment Group LLC affiliate.

According to a Delaware bankruptcy court filing, Fresh & Easy asked the court to approve EM-80 UAV Darkco LLC, which is associated with Fortress’ Drawbridge Special Opportunities Fund, as a stalking horse bidder for its varied property portfolio and proposed a Dec. 12 auction.

The properties...
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