Eye Care Leaders’ sale timeline extended; auction now May 2

By Sarah Lizee

Olympia, Wash., April 26 – Eye Care Leaders Portfolio Holdings, LLC’s sale timeline has been extended at the company’s request, according to an order filed Thursday with the U.S. Bankruptcy Court for the Northern District of Texas.

The bid deadline is 5 p.m. ET on April 29, an auction is scheduled for May 2, and a sale hearing is scheduled for May 13.

As previously reported, the company recently designated Create Capital Special Situations Fund, LLC as the stalking horse bidder for its assets. The proposed purchase price is $11 million plus assumed liabilities and cure costs.

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

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

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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