Zar Apparel Group bid $3.75 million cash plus certain assumed liabilities for intellectual property and e-commerce platforms belonging to
- The bid does not include any real estate or lease interests, per court papers
- The deal allows Le Tote to continue using Lord & Taylor trademarks until the end of February while it liquidates remaining stores
- Zar will serve as the so-called stalking horse for the assets, meaning a higher bid could still emerge
- Status comes with break-up fee equal to 3% of the cash portion of the offer ...