According to published reports, multiple parties – including Holmdel Commons, Spotsylvania Towne Centre, South Hill Mall, Millcreek Mall, Kenedy Mall, Huntington Mall, Governors Square Mall and Eastwood Mall – filed separate objections to Pacific Sunwear of California’s motion for entry of an order (i) approving the bidding procedures, (ii) scheduling a bid deadline and auction and (iii) granting related relief.
Holmdel Commons explains, “The Bid Procedures: fail to provide the requisite information to Landlord regarding ALL necessary timelines for the sales; fail to state the type of information the Debtor will be required to provide regarding the proposed assignee’s adequate assurance information to determine if a proposed assignee meets the heightened requirements for shopping centers and fail to provide information regarding any possible back-up bidder. The Bid Procedures further fail to insure that any proposed assignee will comply with all lease restrictions. Landlord reserves all rights to object should the proposed assignee and the proposed use not meet the lease restrictions and the heightened obligations of assignees of leases in shopping centers as provided under the Bankruptcy Code.”
Read more PacSun bankruptcy news.
The post Pacific Sunwear of California Objections Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.