SportsDirect Acquires Eastern Outfitters In Ch. 11 Sale

Law360, Wilmington (April 19, 2017, 6:34 PM EDT) -- Eastern Outfitters LLC secured a Delaware bankruptcy judge’s approval Wednesday to hand off its business to Retail Ltd. for $105 million in debt take-backs and other consideration, in a deal that sends Eastern’s stores through their second Chapter 11 sale in less than a year.

Judge Laurie Selber Silverstein approved Connecticut-based Eastern’s plan after ruling that SportsDirect’s offer, which also included $500,000 in cash for bankruptcy case wind-up needs, was the best available.

Eastern attorney Jennifer Feldsher of Bracewell LLP said the company — formed...
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