According to The Seattle Times, Sur La Table, which recently filed for bankruptcy, has been sold for approximately $90 million.
A joint venture between e-commerce investment firm CSC Generation and Marquee Brands topped an opening bid from affiliates of Fortress Investment Group at auction last week, according to court papers and a lawyer for Sur La Table’s junior creditors.
While the agreement would allow for 50 retail stores to stay open, the sale is still pending court approval, the media outlet reported.
In July, Sur La Table filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Jersey to consummate a restructuring and going-concern sale of the company, subject to court approval.
This story also ran via Bloomberg.