Eye Care Leaders seeks approval of bid procedures for assets

By Sarah Lizee

Olympia, Wash., Jan. 31 – Eye Care Leaders Portfolio Holdings, LLC is seeking approval of bid procedures for its assets, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Texas.

Eye Care Leaders said it is seeking a transaction incorporating both or either of a sale of all of a portion of the debtors’ assets or a going-concern sale, or a restructuring transaction under a confirmed Chapter 11 plan.

The company is seeking approval to choose one or more stalking horse bidders for the assets. Bid protections would include a 3% breakup fee.

The minimum bidding increment would be $250,000.

The company is proposing a March 11 bid deadline, March 14 auction, and a March 25 sale hearing.

Eye Care Leaders is a Durham, N.C.-based practice management software provider for eye doctors. The company filed bankruptcy on Jan. 16 under Chapter 11 case number 24-80001.

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