Stage Stores, Inc. filed a motion in the US Bankruptcy Court for the sale of its certain assets on October 4, 2020. The debtor seeks the Court’s approval for the sale of its certain assets to Burke’s DC TX, LLC for a purchase price of $7 million, pursuant to the asset purchase agreement dated October 4, 2020. The debtor’s assets include certain real property located at 506 Beall Boulevard, Jacksonville, TX and all intellectual property. To qualify as a qualified bidder, interested parties should submit their bids by October 9, 2020, along with good-faith deposit in the amount of 10% of the bid price. The initial minimum overbid should be at least $0.1 million. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of 3% of the bid price in case of termination of the asset purchase agreement.