Mattress Bathtub & Past’s shuttered shops are getting some acquainted tenants.
Burlington – previously often called Burlington Coat Manufacturing unit – nabbed 44 areas from the beleaguered retailer, which was compelled to public sale off its leases as a part of its chapter proceedings, based on paperwork filed in chapter courtroom in New Jersey final month.
Burlington bought the leases, the biggest share of any retailer, for $12 million, based on the submitting. The corporate secured six different leases outdoors the public sale course of, based on separate paperwork.
Michael’s – the privately held chain of arts and crafts shops – additionally bought 9 areas for about $2.55 million.
BED BATH & BEYOND BANKRUPTCY: COUPONS EXPIRING, RETURN DEADLINES
Furnisher firm Havertys bought 4 areas for practically $470,000 and Barnes & Nobel bought one location in Harmony, North Carolina, for about $130,000. An Aldi can also be taking on a spot in Little Rock, Arkansas.
In Could, A&G Actual Property Companions, introduced plans to public sale a whole bunch of Mattress Bathtub & Past and Purchase Purchase Child leases after the corporate began its retailer closing gross sales and commenced winding down operations.
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The corporate filed for Chapter 11 chapter safety in April after back-to-back quarters of sagging gross sales and several other failed makes an attempt to show round its enterprise.
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Though its brick-and-mortar shops are getting bought off to the best bidder, the corporate will nonetheless have a web-based presence to some extent.
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Overstock.com acquired the bankrupt retail chain’s mental property belongings for $21.5 million. The net retailer Overstock.com is dumping its title on-line and can change into Mattress & Bathtub & Past.
The Related Press contributed to this report.