Destination Maternity Announces $50M Stalking Horse Bid

Law360 (December 2, 2019, 2:37 PM EST) -- Retailer Destination Maternity Corp. is asking the Delaware bankruptcy court to approve a $50 million stalking horse bid from brand acquisition company Marquee Brands for its e-commerce operation, store-in-store locations and trademarks.

The bid Destination Maternity is seeking approval of would include an agreement with an agency to sell the inventory and fixtures of the 235 stand-alone stores that are not included in the deal, according to the motion filed with the court Friday.

“We are pleased that Marquee Brands recognizes the value of our business and has made a competitive bid during our marketing and sale process,” Lisa Gavales, Destination...

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