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Shoes Manufacturing Company in Massachusetts

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Listing Information

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Shoes Manufacturing Company in Massachusetts



Price: $150,000,000.00


Other Item Info
Item #: debke_173201
Created: 05/17/2018
Category: Business Property > All Assets or Going Concerns > General Retailers
Sale Location: Wilmington, Delaware
Sale Date: Tue. Jul 10, 2018
Seller Info
Mark D. Collins
Debtor's Attorney
One Rodney Square 920 North King Street
Wilmington, DE 19801
302 651-7700
Bankruptcy Info
Case #: 1:18-bk-11145
Case Title: The Rockport Company, LLC
Court: Delaware Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of assets of the The Rockport Company, LLC, including all of each Seller's right, title and interest in and to the following assets to the extent related to the Business, described as below:

  • All Accounts Receivable (other than as set forth in Section 2.2(c) of the Stalking Horse Agreement);
  • The Acquired Store Cash Amount;
  • All Inventory other than Excluded Inventory;
  • Except as otherwise set forth in Section 2.2(n) of the Stalking Horse Agreement, all rights relating to deposits (including customer deposits and security deposits for rent, utilities, telephone or otherwise), prepaid or deferred charges and expenses related to the Purchased Contracts; provided, however, all rights relating to deposits and prepaid charges and expenses paid in connection with or relating to any Excluded Assets shall be Excluded Assets;
  • The Furniture and Equipment other than Excluded Furniture and Equipment;
  • The Purchased Intellectual Property which, for the avoidance of doubt, shall be transferred pursuant to the IP Assignment Agreements and not this Agreement;
  • The Purchased Contracts;
  • All of the Real Property Documents that are not Excluded Occupancy Agreements;
  • All Documents (other than those described in Section 2.2(j) of the Stalking Horse Agreement) to the extent not prohibited by applicable Laws;
  • All Permits used in the Business and pending applications therefor;
  • All rights under or pursuant to all representations, warranties and guarantees made by suppliers, manufacturers and contractors to the extent relating to products sold, or services provided to, any Seller under any Purchased Contract, other than any representations, warranties and guarantees pertaining to any Excluded Assets or rights and defenses pertaining to any Excluded Liabilities;
  • All goodwill and other intangible assets associated with the Business;
  • The Purchased Equity Interests;
  • All rights of Sellers under non-disclosure or confidentiality, noncompete, non-solicitation or no-hire agreements relating to the Purchased Assets, the Assumed Liabilities (or any portion of the foregoing);
  • Any rights, claims or causes of action of any Seller against Third Parties relating to the Purchased Assets or the Assumed Liabilities as of the Closing, or of any kind against any Acquired Company, and all rights of indemnity, warranty rights, rights of contribution, rights to refunds (other than Tax refunds), rights of reimbursement and other rights of recovery, including insurance proceeds, possessed by Sellers as of the Closing (regardless of whether such rights are currently exercisable) to the extent related to any Acquired Company, Purchased Asset or Assumed Liability;
  • All Avoidance Actions (whether known or unknown, contingent or otherwise) accruing or arising prior to the Closing Date against (a) any of the Acquired Companies; (b) any counterparty to a Purchased Contract; (c) any vendor, supplier, lessor or other Person listed on Schedule 2.1(p) of the Stalking Horse Agreementor (d) Any Transferred Employee (collectively, the “Purchased Avoidance Actions”);
  • To the extent transferable, rights in connection with and assets of the Transferred Plans; and
  • To the extent transferable, all rights of indemnity pursuant to section 10.1.1(a) of the Master Purchase Agreement, dated as of January 25, 2015, by and among Relay Intermediate, LLC, Reebok International Ltd. and Adidas AG.

Sale Location

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920 North King Street
Wilmington, DE, 19801

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Sale Hearing Held on July 13, 2018.
  3. Purchase Price: The consideration to be paid at the Closing for the Purchased Assets (the "Purchase Price") shall consist of (i) an amount equal to (A) $150,000,000 (the "Base Cash Amount") plus (B) the amount (if any) by which the Estimated Consolidated Working Capital exceeds the Target Consolidated Working Capital minus (C) the amount (if any) by which the Target Consolidated Working Capital exceeds the Estimated Consolidated Working Capital, plus (D) the Estimated Acquired Companies Closing Cash, minus (E) the Estimated Acquired Companies Closing Indebtedness, minus (F) the Estimated Acquired Companies Transaction Expenses plus (G) the Estimated NAM Store Inventory Amount (the "Initial Cash Consideration"), (ii) a warrant to purchase up to 5% of the common equity of the indirect parent of Purchaser (“Parent Holdco”) at an exercise price equal to 2.5 times the price of the equity invested by the Equity Commitment Party in Parent Holdco as of the Closing Date, substantially in the form of Exhibit B (the "Warrant") and (iii) the assumption of the Assumed Liabilities.
  4. Initial Overbid Amount: Initial overbid protection of $500,000 over and above the aggregate of the Purchase Price and the Stalking Horse Protections.
  5. Bid Deposit: 10% of the purchase price
  6. Bid Increment: $250,000.
  7. Bid Deadline: June 29, 2018
  8. Last date to respond: June 27, 2018


Other Information

Terms and Conditions:

See Attached.


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