Whitehall Jewelers looks to auction property leases

By Jennifer Lanning Drey

Portland, Ore., Sept. 22 - Whitehall Jewelers Holdings, Inc. requested court approval of the bidding procedures related to the proposed auction of its interests in property leases on its retail stores, which are in the process of conducting going-out-of-business sales, according to a Friday filing with the U.S Bankruptcy Court for the District of Delaware.

Under the proposed bidding procedures, bids for the leases are due on Oct. 24, and an auction will be held Oct. 30.

Bids must include a deposit that is the greater of 10% of the bid amount or $5,000.

Bids will be accepted for individual or multiple leases.

The company has requested that a hearing on the bid procedures be held on Oct. 3.

Whitehall, a Chicago-based jewelry retailer, filed for bankruptcy on June 23 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 08-11261.

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