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Lawn & Garden Products Manufacturing Company in Illinois
Listing Information
Attachments
Lawn & Garden Products Manufacturing Company in Illinois
Minimum Price: $20,000,000.00
Other Item Info
Item #: ilcbke_123930
Created: 10/28/2014
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Date: Wed. Dec 17, 2014
Primary Office Location: Rock Island, IL
Created: 10/28/2014
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Date: Wed. Dec 17, 2014
Primary Office Location: Rock Island, IL
Seller Info
Peter A Siddiqui
Debtor's Attorney
525 West Monroe Street
Chicago, IL 60661
312 902-5455
Debtor's Attorney
525 West Monroe Street
Chicago, IL 60661
312 902-5455
Bankruptcy Info
Case #: 1:14-bk-81854
Case Title: Country Stone Holdings, Inc., et al.
Court: Illinois Central Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Country Stone Holdings, Inc., et al.
Court: Illinois Central Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all the Assets of Country Stone Holdings, Inc. including all right, title and interest in, to or under all of the properties and assets of the Company of every kind and description, wherever located, whether real, personal or mixed, tangible or intangible, owned, leased, licensed, used or held for use in or relating to the Business.
Country Stone Holdings, Inc. are in the business of manufacturing, processing, and packaging lawn and garden products such as mulch, soil, fertilizer, plant food, organics, concrete and decorative stone for sale both to “big box” retailers, as well as to smaller, independent garden supply stores. The corporate headquarters are located in Rock Island, Illinois and Milan, Illinois. The Company operate 17 plants throughout the United States, including in Illinois, Iowa, Indiana, Minnesota, Wisconsin, Missouri, and California.
Financial Overview
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Additional Details
- Bidding Procedures Hearing held on November 10, 2014
- Sale Hearing held on December 18, 2014
- Bid Amount: (a) (i) $20,000,000, plus (ii) $400,000 (Break-up Fee) and $100,000 (Expense Reimbursement) in cash, and (iii) $200,000 (the initial overbid amount) and (b) must obligate the Bidder to pay all amounts which the Purchaser under the Agreement has agreed to pay, including all Assumed Liabilities.
- Bid Deadline: December 15, 2014
- Bid Deposit: 10% of the Bid Amount
- Bidding Increments: $100,000
- A Bid for only the Block Assets must contain proposed consideration for the Block Assets of at least $10,000,000.
- A Bid for only the Non-Block Assets must contain proposed consideration for the Non-Block Assets of at least $5,000,000.
- Last date to respond - December 15, 2014 at 5:00 p.m.
- Sale Term: $20,000,000 plus (i) an amount equal to an adjusted value of inventory minus (ii) the amount of the Cure Costs existing as of the Closing associated with those contracts and leases to be assumed and assigned by the Proposed Purchaser.