Tweaked Shopko Ch. 11 Plan Gets Nod After Initial Rejection
Law360 (June 12, 2019, 9:40 PM EDT) -- A Nebraska bankruptcy judge has approved a revised Chapter 11 plan for bankrupt retail chain Shopko, minus the litigation releases that caused him to reject it two weeks ago.
U.S. Bankruptcy Judge Thomas Saladino on Tuesday approved Specialty Retail Shops Holding Corp.'s revised Chapter 11 plan, submitted two days after Judge Saladino rejected a prior version that had sparked opposition thanks in part to nonconsensual litigation releases.
Shopko, which filed for bankruptcy in January with about $440 million in secured debt, operated about 365 stores throughout the U.S., mainly in the Midwest. It had gone into Chapter 11, saying it intended...
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