Things Remembered To Sell Up To 178 Stores In Ch. 11 Deal

Law360, Wilmington (March 6, 2019, 8:15 PM EST) -- Personalized gift retailer Things Remembered received court approval Wednesday in Delaware for a sale of up to 178 of its stores as a going concern, more than triple the amount originally envisioned in its stalking horse bid.

Things Remembered attorney Christopher T. Greco of Kirkland & Ellis LLP said the sale result was achieved through the cooperation of its secured lenders, which agreed to finance the going concern sale process despite there being no guarantee they would receive any more in recoveries versus a liquidation.

"This is a very important day for the company," Greco told the court. "Just given what's...

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