| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers D > Headlines for Deb Shops, Inc. > News item |
Deb Shops: Ableco bid only offer for assets; Aug. 31 auction cancelled
By Caroline Salls
Pittsburgh, Aug. 30 - Deb Shops, Inc. said Tuesday that first-lien debt agent Ableco Finance LLC's stalking horse bid was the only offer received for substantially all of the company's assets as of the Aug. 24 bid deadline, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.
As a result, Deb Shops has cancelled its Aug. 31 auction.
As previously reported, Ableco has agreed to credit bid $75 million of the company's first-lien debt.
The sale hearing is scheduled for Sept. 13.
Deb Shops, a Philadelphia-based retailer that specializes in junior and plus-sized merchandise for women aged 13 to 25, filed for bankruptcy on June 26. The Chapter 11 case number is 11-11941.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.