Brookstone – Declares Joint Bid by Bluestar and Apex Digital Winning Bid for Going Concern Assets, Plans to File APA This Week

September 30, 2018 – Brookstone filed with the Court a notice of successful bid and next-highest bid for the Debtors’ equity interests in certain non-Debtor joint venture subsidiaries, IP assets, airport leases and certain JV equity interests (collectively, the “Going Concern Assets”) [Docket No. 466]. The Debtors state, “An Auction for the Going Concern Assets…including the IP Assets…concluded…on September 30, 2018….[A]t the conclusion of the Auction, the joint bid submitted by Bluestar and Apex Digital Inc. was determined to be the Successful Bid for the IP Assets, the Debtors’ unexpired real property leases or concession agreements used to operate Brookstone airport stores (the ‘Airport Leases’), the Debtors’ equity interests in certain non-Debtor joint venture subsidiaries (the ‘JV Equity Interests’) and certain related assets (collectively with the IP Assets, the Airport Leases, and the JV Equity Interests, the ’Concern Assets’) and the joint bid submitted by Three Sixty Brands Group LLC, was determined to be the Next-Highest Bid for the Going Concern Assets.” The notice also stated that the Debtors intend to present a revised form of proposed sale order, together with asset purchase agreements reflecting the terms of the successful bid, at a hearing on October 4, 2018