Motion For Asset Sale Approved on Final Basis- Store Closing Sales for Christopher & Banks Corporation
February 08, 2021 at 12:00 am EST
The US Bankruptcy Court gave an order approving Christopher & Banks Corporation’s entry into an agency agreement on a final basis on February 8, 2021. The debtor has been authorized to appoint Hilco Merchant Resources, LLC, as its agent to conduct store-closing sales. According to the approved agency agreement, the Agent shall pay to debtors an amount equal to 5.0% of the gross proceeds (excluding only sale taxes) from the sale of additional agent goods. The sale shall be concluded on or before February 28, 2021.