A E. Ropostale Asset Auction Is Held On Monday, Us Time.
A e ropostale
Inc. will be auctioned off on Monday, us time, when a bankrupt judge makes a ruling on his former major shareholder and makes it possible to purchase his assets through debt.
The successful Sycamore Partners Management LLC has already entered the bid plan to make use of the US $151 million loan granted to A American ropostale Inc. in 2014.
Clothes & Accessories
Retailer.
And quoted news that it had already paid a large amount of inventory fees and 500 stores' rents for A e ropostale Inc., in exchange for the Versa Capital Management LLC that it acquired.
Versa Capital Management LLC is a private equity fund focused on the acquisition of non-performing assets.
Two years ago, Sycamore Partners Management LLC made its MGF Sourcing US LLC the main supplier by investing in A ropostale Inc..
Recently, A e ropostale Inc. filed a bankruptcy ban against Sycamore Partners Management LLC, claiming that the Sycamore Sycamore Partners Management LLC and the gang of Partners Management and the bank collusion forced the group to go bankrupt.
Bankruptcy judge Sean Lane said in the ruling that there was a lack of Sycamore Partners Management LLC, which deliberately caused the evidence of A ropostale ropostale Inc. bankruptcy, and restricted the Sycamore Partners Partners.
Purchaser
MGF Sourcing US LLC does not violate the contract between the two parties.
For the victory of Sycamore Partners Management LLC, A e ropostale Inc. said in a statement that she was "disappointed".
According to court documents, bankruptcy judge Sean Lane revealed that about 15 buyers had withdrawn from the sale process of A ropostale Inc. because of the involvement of Sycamore Partners Management LLC, but there are still 3 buyers who expressed willingness to buy. He also said there was evidence that A ropostale ropostale could be raised by 2-3 yuan.
It is reported that Sycamore Partners Management LLC plans to liquidate A ropostale Inc., and considers it the best choice for creditors. However, it will be a nightmare for retailers who have more than 10 thousand employees and hundreds of stores.
A e ropostale Inc. has gone bankrupt in the past two years, including us Wet Seal LLC and Pacific Sunwear of California Inc..
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