Eastern Outfitters Plans To Pivot To Private Ch. 11 Sale

Law360, Wilmington (March 22, 2017, 7:48 PM EDT) -- Eastern Outfitters LLC on Wednesday told the Delaware bankruptcy court that it plans to pivot from an auction to a private sale as part of a deal with unsecured creditors that would resolve myriad issues over the outdoor sporting goods retailer's sale plans and post-petition financing.

During a hearing in Wilmington, Eastern Outfitters attorney Jennifer Feldsher of Bracewell LLP said that minutes before the hearing, the parties were able to hammer out an agreement that would "obviate" many of the issues the official committee of unsecured creditors launched earlier this week at the up to $85 million debtor-in-possession financing and stalking horse...

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