GBG Sells Ely & Walker Assets for $750,000 to Lone Bidder

Bankrupt GBG USA won court approval to sell its Ely & Walker assets to TAJ Imports Inc. for $750,000 cash.

• GBG received only one qualified bid for Ely & Walker, which is a Western shirt company “catering to outdoors and work wear lifestyle customers,” per court court papers
• U.S. Bankruptcy Judge Michael Wiles said he would approve the sale pending changes to the court order discussed in a hearing Tuesday
• PREVIOUSLY: Aquatalia Sold for $23 Million to Saadia Group Following Auction
• The case is GBG USA Inc. et al., 21-11369-mew, U.S. Bankruptcy Court for the Southern District of New York ...