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Pegasus Home cancels auction, names Blue Torch unit winning bidder
By Sarah Lizee
Olympia, Wash., Oct. 27 – Pegasus Home Fashions, Inc. canceled an auction for its assets scheduled for Oct. 27 and named the stalking horse, an affiliate of prepetition secured lender Blue Torch Finance, LLC, the winning bidder for its assets, according to a notice filed with the U.S. Bankruptcy Court for the District of Delaware.
The purchase price includes assumed liabilities, assumption of or payment in cash of all debt under a prepetition revolver and a $64.1 million credit bid of prepetition term loan debt and debtor-in-possession term loan debt, as previously reported.
A sale hearing will take place on Nov. 2.
Elizabeth, N.J.-based Pegasus Home Fashions manufactures bedding and home products. The company filed bankruptcy on Aug. 24 under Chapter 11 case number 23-11235.
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