FTD Gains Bankruptcy Court OK to Sell Assets for $132 Million (1)

Bankrupt flower retailer FTD Companies Inc. gained court approval for two proposed deals to sell nearly all of its assets.

Gateway Mercury Holdings LLC will buy the restructured ProFlowers business and other FTD assets, including FTD.com, for $111 million.

SBGF Acquisition LLC, a purchase vehicle for 1-800-FLOWERS.COM, will acquire FTD’s Gourmet Foods business, including the Shari’s Berries brand, for $20.5 million.

“Following the closing of the sale, Gateway intends to operate the Acquired Business going forward, which will include satisfying its obligations under contracts that the Debtors will seek to assume and assign to Gateway in connection with the sale,” ...