Bidding War for Century 21 Stores IP Results in $9 Million Sale

U.S. Bankruptcy Judge Shelley Chapman approved a sale of Century 21 Stores’ intellectual property for $9 million, far exceeding the opening bid of $800,000.

• The offer from Gindi C21 IP LLC, an entity controlled by the family that founded Century 21, came after 34 rounds of bidding in an open outcry auction, court papers show
• Chapman is “pleased that the sale garnered such a high price compared to the initial bid,” she said in a hearing Tuesday
• PREVIOUSLY: Century 21 Gets $800k Bid for IP, Judge Approves Breakup Fee
• The case is Century 21 Department Stores LLC, 20-12097, U.S. ...