A letter of intent from Middleton Management Company proposes to pay $39 million in total for the assets of Maurice Sporting Goods as the stalking horse bidder in a bankruptcy auction. The bid will include some $3 million in cash and pay out the rest for inventory acquired. The deal excludes Maurice’s current accounts receivable, which Middleton will collect and remit to seller Jory Katlin minus a 5% collection fee. Most of the inventory will be acquired at 90% of seller’s cost. In addition to the assets, the LOI will retain leases for distribution facilities and ... Log in to view full article.