Express Inc. creditors challenged a potential fee and other protections for the distressed retailer’s lead bidder, saying they could chill competing offers to buy the company out of bankruptcy.
ReStore Capital LLC, representing second lien lenders, said it supports Express’ efforts to turn its business around but isn’t on board with proposed payments the lead bidder—a consortium led by Express’ two largest landlords—is seeking as a condition of its offer, according to a Sunday filing in the US Bankruptcy Court for the District of Delaware.
The clothing retailer filed for bankruptcy in April with an offer from a group that ...
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