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Destination Maternity's Expedited Ch. 11 Sale Plan Approved

Destination Maternity’s Expedited Ch. 11 Sale Plan Approved

Law360, Wilmington (November 14, 2019, 9:10 PM EST) — Retailer Destination Maternity’s proposed bidding procedures received court approval Thursday, with a Delaware bankruptcy judge saying he would make sure the case’s compressed timeline didn’t negatively affect the rights of landlords with leases at the debtor’s locations.

During a hearing in Wilmington, debtor attorney Kerri K. Mumford of Landis Rath Cobb LLP said the proposed bidding procedures had been amended to provide notice to contract counterparties, including landlords, about which contracts a successful bidder for the debtor’s assets would be assuming in an asset purchase agreement.

A group of landlords pressed their objection to the timeline, saying they wouldn’t have enough…