All of Mattress Bathtub & Past’s Purchase Purchase Child shops are shuttering as a part of its chapter liquidation.
Purchase Purchase Child’s mental property belongings have been bought to Dream on Me Industries, which manufactures and sells child merchandise and furnishings, to the tune of $15.5 million. A federal choose accepted the sale this week, in accordance with court docket paperwork. The accepted deal, although, doesn’t embrace the bodily shops.
Mattress Bathtub & Past debtors didn’t safe a greater supply for the retailer, which focuses on child merchandise, and subsequently canceled an public sale for the corporate’s belongings, court docket paperwork acknowledged.
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In June, OverStock.com bought Mattress Bathtub & Past’s mental property belongings for $21.5 million, months after the beleaguered retailer filed for Chapter 11 chapter safety. That deal additionally did not embrace Mattress Bathtub & Past or Purchase Purchase Child shops.
Mattress Bathtub & Past — as soon as seen as a significant participant within the retail sector with its vast collection of kitchen and residential provides — filed for Chapter 11 chapter safety in April after years of sagging gross sales and failed turnaround plans.
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Nonetheless, some acquainted tenants have already began making the most of the open Mattress Bathtub & Past retail areas.
As an example, Burlington, previously often known as Burlington Coat Manufacturing facility, nabbed 44 areas, in accordance with paperwork filed in chapter court docket in New Jersey final month.
Burlington bought the leases, the biggest share of any retailer, for $12 million, in accordance with the submitting. The corporate secured six different leases outdoors the public sale course of, in accordance with separate paperwork.
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Michael’s — the privately held chain of arts and crafts shops — additionally bought 9 areas for about $2.55 million.
Furnisher firm Havertys bought 4 areas for practically $470,000, and Barnes & Noble bought one location in Harmony, North Carolina, for about $130,000. An Aldi grocery store is taking on a spot in Little Rock, Arkansas.