Quaker Fabric asset sale, Bleachery Pond property sale approved

By Caroline Salls

Pittsburgh, Sept. 20 - Quaker Fabric Corp. obtained court approval of the sales of its intellectual property, inventory, machinery and equipment, as well as its Fall River, Mass., Bleachery Pond property, according to Wednesday filings with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the Gordon Brothers Group has agreed to buy the company's intellectual property, inventory, machinery and equipment for $27 million, and the Atlantis Charter School has agreed to buy the Bleachery Pond property for $2.6 million.

Quaker Fabric, a Fall River, Mass., designer, manufacturer and marketer of woven upholstery fabrics for residential furniture, filed for bankruptcy on Aug. 16. Its Chapter 11 case number is 07-11146.

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