Pegasus Home closes sale of its assets to Blue Torch Finance unit

By Sarah Lizee

Olympia, Wash., Dec. 5 – Pegasus Home Fashions, Inc. closed the sale of its assets to an affiliate of prepetition secured lender Blue Torch Finance, LLC, the stalking horse and winning bidder, according to a notice filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, 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.

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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