September 6, 2018 / 12:00 AM / 13 days ago

Bankruptcy watchdog objects to Brookstone's stalking-horse deal

The U.S. government’s bankruptcy watchdog on Wednesday objected to gadget retailer Brookstone’s push for a court order on Thursday that would approve its deal for a so-called stalking horse bidder, citing concerns about $1.2 million in potential costs.

Acting U.S. Trustee Andrew Vara’s office in a filing in U.S. Bankruptcy Court in Delaware said it is specifically concerned about a $900,000 fee and an expense reimbursement of $300,000 in Brookstone’s arrangement with brand licensor Bluestar Alliance LLC to serve as a stalking-horse bidder.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2CuZQwW

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