Privately-held Eastern Outfitters (f/k/a Subortis Retail Group) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, lead case number 17-10243.
The Company, which offers retail clothing and accessories, is represented by Norman L. Pernick of Cole Schotz. As widely reported, U.K.-based Sports Direct International engaged in pre-petition negotiations with Eastern Outfitters to become a stalking horse bidder in Eastern Outfitters 363 sale process and auction.
Eastern Outfitters is wholly owned by Subortis Retail Financing, which acquired the Company through the April 2016 bankruptcy of previous owner Vestis Retail Group LLC. Eastern Outfitters’ current Chapter 11 petition indicates total assets of $100 to 500 million.
Read more bankruptcy news.
The post Eastern Outfitters Chapter 11 Bankruptcy Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.