Eastern Outfitters store-closing sales, liquidator agreement approved

By Caroline Salls

Pittsburgh, April 13 – Eastern Outfitters, LLC received court approval to conduct store-closing sales, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The company also obtained court approval to enter into an agreement under which a joint venture comprised of Hilco Merchant Resources, LLC and Gordon Brothers Retail Partners, LLC will serve as store liquidators.

The joint venture will receive a consultant fee of 1.25% of the gross proceeds of the merchandise sold at the non-continuing stores.

According to the motion, the sales will be held at the stores identified by asset purchaser Sportsdirect.com Retail Ltd.

Eastern Outfitters, a Meriden, Conn.-based retailer, filed bankruptcy on Feb. 5. Its Chapter 11 case number is 17-10243.

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