Brookstone Sale Approved, Unsecured Creditors to Benefit (1)

Brookstone Holdings Corp.'s $65 million sale of substantially all its assets to the winners of a four-day auction won approval from a Delaware bankruptcy judge Oct. 4.

The quirky gadget and high-tech product retailer will sell its intellectual property, including the Brookstone brand, and its airport stores to Bluestar Alliance, LLC and Apex Digital, Inc.

Besides the cash, Brookstone will benefit from a waiver of about $40 million in secured claims and more than $80 million in unsecured claims.

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware and the official committee of unsecured creditors ...