Retail asset specialist Gordon Brothers urged a Delaware bankruptcy court to compel payment of more than $10 million from Big Lots Inc., accusing the bankrupt retailer of breaching the terms of a company sale agreement.
Big Lots months ago agreed to pay $10 million stemming from the Chapter 11 sale of its corporate headquarters, but the chain has refused to transfer the funds after selling the property for $36 million, Gordon Brothers Retailer Partners LLC told the US Bankruptcy Court for the District of Delaware on May 30.
Gordon Brothers, which earlier this year purchased Big Lots assets out of ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.