Brookstone Gets Court Approval of its Reorganization Plan

U.S. Bankruptcy Judge Brendan Shannon approved plan Wednesday at a hearing in Wilmington, Delaware.

• Co. expects the effective date to be within 10-14 days
• Recoveries for unsecured creditors will be in the range of 16.4% to 22.5%
• NOTE: Brookstone closed on the sale of intellectual property, e-commerce business and airport locations in Oct.
• NOTE: Co. listed assets of more than $50m and debt of more than $100m in Chapter 11 papers filed Aug. 2 in U.S. Bankruptcy Court in Wilmington, Delaware
• CASE: Brookstone Holdings Corp., 18-11780, U.S. Bankruptcy Court, District of Delaware

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