May 14, 2018 / 10:42 AM / 4 months ago

BRIEF-The Rockport Group Enters Into Asset Purchase Agreement With Charlesbank

May 14 (Reuters) - The Rockport Group:

* THE ROCKPORT GROUP ENTERS INTO ASSET PURCHASE AGREEMENT WITH CHARLESBANK

* THE ROCKPORT GROUP - SALE PROCESS FACILITATED THROUGH VOLUNTARY CHAPTER 11 FILING

* THE ROCKPORT GROUP - OBTAINED $20 MILLION IN NEW-MONEY DIP FINANCING FROM EXISTING NOTEHOLDERS, IN ADDITION TO EXISTING $60 MILLION CREDIT FACILITY

* THE ROCKPORT GROUP - CHARLESBANK WILL SERVE AS “STALKING HORSE BIDDER” IN A COURT-SUPERVISED SALE PROCESS

* THE ROCKPORT GROUP - CO EXPECTS TO PAY FOR ALL GOODS AND SERVICES DELIVERED ON OR AFTER MAY 14 IN NORMAL COURSE

* THE ROCKPORT GROUP - AGREEMENT WITH CHARLESBANK INCLUDES CO’S GLOBAL WHOLESALE ASSETS, E-COMMERCE PLATFORM, RETAIL OPERATIONS IN ASIA AND EUROPE

* THE ROCKPORT GROUP - IS SEEKING COURT AUTHORIZATION TO CLOSE NORTH AMERICAN RETAIL STORES THAT ARE NOT ACQUIRED BY CHARLESBANK OR ANOTHER PARTY Source text for Eikon:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below