NWL To Sell Or Liquidate Before Thanksgiving

Law360, New York (November 14, 2008, 12:00 AM EST) -- A federal bankruptcy court judge has approved $7 million in debtor-in-possession financing for NWL Holdings Inc., the parent company of discount retail chain National Wholesale Liquidators, that calls for the company to sell or liquidate before Thanksgiving.

Judge Mary F. Walrath of U.S. Bankruptcy Court for the District of Delaware on Thursday also approved motions that will allow National Wholesale Liquidators to jointly administer the Chapter 11 proceedings for its more than 60 affiliates that filed for protection at the same time.

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