Lolli & Pops to Sell Assets for $2.4 Million, Debt Assumption

Bankrupt confectioner Lolli & Pops will sell “substantially all assets” for $2.4 million cash and a discount on inventory.

The buyer, which is conducting the deal through a recently formed investment vehicle, Lolli & Pops Holdings LLC, also will assume some liabilities, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The notice didn’t identify who formed the bid winner or the amount of debt it will assume. The buyer will receive some undelivered inventory by paying 75% of the price that Lolli & Pops paid for it.

Judge Christopher S. Sontchi will ...