Sports Atrocity Bankruptcy Judge moves to Enforce Consignment Settlement
A DE bankruptcy court ordered four vendors to pay term loan lender WSFS a total of $189,361.38 within five business days of a Jul. 18 order, stayed until an Aug. 22 hearing the amounts owed by five additional vendors and sanctioned eight additional vendors, ordering them to pay the amounts due as well as legal costs in connection with pursuing the bank’s claim. The order stems from an agreement among WSFS and a number of vendors who had sold Sports Atrocity on consignment. Terms of the consignment deals limited Sports Atrocity’s ability to sell at prices needed to liquidate the ... Log in to view full article.