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Article Date: January 2018
Word Count: 192

Sheikh to Pursue Sale While Also Looking To Reorganize

Owner Sheikh S. Ellahi said his primary intention remains to reorganize the company but he agreed to simultaneously pursue a sale of the company under certain conditions at the insistence of the unsecured creditors committee. His declaration portrays the sale process as a backup plan and makes clear that he is against the whole idea. The declaration also notes that, in addition to the 31 stores already being closed, the company has also filed notices to reject an additional 15 stores in total. There has not been a ruling yet on the request to replace the ... Log in to view full article.


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