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Judge OKs Sale Of Whitehall Jewelers Stores

Law360 (August 29, 2008, 12:00 AM EDT) -- A week after it was announced, the sale by bankrupt Whitehall Jewelers Inc. of several of its stores to New Zealand-based jeweler Michael Hill International Ltd. is a done deal, with a judge's approval in place.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware signed off on the deal Thursday. Michael Hill agreed to buy 17 stores in the U.S. Midwest from Whitehall for $5 million (NZD $7 million), marking the Kiwi company's foray into the U.S. marketplace.

“Time is of the essence in closing the transaction,” Judge Gross wrote in his order approving the all-cash...

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