Interest Groups

Charlotte Russe Adds IP, Lease Assets to Chapter 11 Bankruptcy - Intellectual Property News

Get the news you want the way you want it: click the RSS button in the right corner to add this feed to your RSS reader, or click here to subscribe to this content. By subscribing, you’ll find this news on your Member Account page, and the latest articles will be emailed to you in your customized IndyBar E-Bulletin e-newsletter.

Intellectual Property News


Posted on: Mar 27, 2019

Intro by John Bishop, Cohen Garelick & Glazier PC

On March 19, 2019, a Delaware bankruptcy judge granted Charlotte Russe Holding Inc. permission to sell its remaining intellectual property and real estate lease assets, adding to its total bankruptcy estate. The IP and lease assets are valued at $5 million and add to the company’s $59 million liquidation sale for its more than 500 stores.  After filing for Chapter 11 protection in February 2019, SB360 won the auction in early March 2019 with an offer to pay Charlotte Russe 37% of the value of its $160 million inventory. While pennies on the dollar, the winning bid provided about $8 million more than the debtor’s initial offer.

Read more in this article.

If you would like to submit content or write an article for the Intellectual Property Section, please email Kara Sikorski at ksikorski@indybar.org.

DID YOU KNOW?

Indianapolis Bar Association (IndyBar) est. 1878 | 4,536 Members (as of 2.11.21)