September 27, 2019 / 2:36 AM / 2 months ago

IN BRIEF: Fred's has $9.4 mln deal for pharmacy assets to boost Ch. 11 liquidation

Discount retailer Fred’s Inc sought court approval on Thursday to sell more of its pharmacy assets to Walgreen Co for $9.4 million, saying the deal with the drugstore chain will raise urgently needed funds to help with its bankruptcy liquidation.

Fred’s in a filing in U.S. Bankruptcy Court in Delaware said it wants to pursue the sale of remaining assets at 44 pharmacies at stores it is closing instead of holding an auction because it does not expect it will get bids for the assets topping Walgreens’ offer.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2luq7E1

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