This is a public record generated listing.
Assets of Carpets and Home Furnishings Business
Listing Information
Attachments
Assets of Carpets and Home Furnishings Business
Price: Not Specified
Other Item Info
Item #: nysbke_309797
Created: 09/14/2021
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Location: New York, New York
Sale Date: Fri. Oct 22, 2021
Created: 09/14/2021
Category: Business Property > All Assets or Going Concerns > General Industrials
Sale Location: New York, New York
Sale Date: Fri. Oct 22, 2021
Seller Info
Oscar Pinkas
Debtor's Attorney
200 Park Avenue MetLife Building
New York, NY 10166
917-975-6114
Debtor's Attorney
200 Park Avenue MetLife Building
New York, NY 10166
917-975-6114
Bankruptcy Info
Case #: 1:21-bk-11591
Case Title: A.B.C. Carpet Co., Inc.
Court: New York Southern Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: A.B.C. Carpet Co., Inc.
Court: New York Southern Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of substantially all of assets of A.B.C. Carpet Co., Inc (the “Seller”), which includes, among other things, certain accounts receivable, inventory, leases, contracts, tangible assets, acquired intellectual property, customer orders, certain claims of the sellers, including avoidance actions, and rights under the transferred contracts, including security deposits.
Assets are more particularly described in Exhibit B from Page No. 95-97 on the attached PDF.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
Receivables:
Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
- The Auction for the sale of the assets shall commence on October 22, 2021.
- Sale Hearing Held on October 27, 2021.
- Purchase Price: The consideration for the sale and transfer of the Acquired Assets from Sellers to Buyer (collectively, the “Purchase Price”) shall be (a) a credit bid of the DIP Credit Agreement and Prepetition Secured Indebtedness (which is estimated to exceed $15 million) (the “Credit Bid Amount”); (b) the payment by or on behalf of the Buyer or its designee of the Professional Fee Escrow Amount and the Winddown Amount in an aggregate amount not to exceed the financing or funding provided pursuant to the Budget and the DIP Order, (c) cash to pay the Cure Amounts, if any, (d) cash equal to three hundred thousand dollars ($300,000) plus the amount of the Store-Level Cash (the “Cash Purchase Price”); and (e) the assumption by Buyer of the Assumed Liabilities pursuant to the Assignment and Assumption Agreements which shall provide for, amongst other items, (x) assumption of gift card liabilities and merchandise credits, (y) assumption of Customer Order Obligations described in Section 1.3(a); and (z) the Transition Service Contribution (as defined in Section 6.2).
- Bid Deposit: 10% of the proposed purchase price
- Bid Deadline: October 19, 2021
- Last date to respond: October 25, 2021