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Footstar's Gaffney, S.C., distribution center goes for $20.25 million
New York, Sept. 17 - Footstar Inc.'s Gaffney S.C., distribution center fetched $20.25 million at a bankruptcy court-supervised auction, significantly more than the $15.1 million stalking horse bid.
The winning bidder is ADS Logistics Services - Gaffney LLC, according to a document filed with the U.S. Bankruptcy Court for the Southern District of New York on Friday.
A hearing to confirm the sale will be held on Sept. 21.
Before the auction, Footstar, a West Nyack, N.Y.-based footwear company, had agreed to sell the center to Automated Distribution Systems LP as stalking horse bidder for $15.1 million.
Footstar filed for bankruptcy on March 2. Its Chapter 11 case number is 04-22350.
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