Gordon Brothers Puts Up $27 Million for Bankrupt Hardware Brands

A joint venture led by Gordon Brothers Commercial & Industrial LLC agreed to set a $27 million auction floor to buy the assets of bankrupt home hardware seller Nova Wildcat Shur-Line Holdings Inc.

Nova Wildcat, branded commercially with its non-bankrupt subsidiaries as H2 Brands Group Home & Hardware, told the US Bankruptcy Court for the District of Delaware in a filing Tuesday that the bid will position the company to “achieve the highest or otherwise best outcome” in its sale process.

Under the stalking horse agreement, Gordon Brothers and partner Nations Capital Inc. would set a starting bid to acquire ...