The fallen retail operator of clothing brand Eddie Bauer secured approval of its liquidating plan 60 days after filing for bankruptcy.
Judge Stacey L. Meisel of the US Bankruptcy Court for the District of New Jersey approved the plan during a Thursday hearing, ruling that it complies with US bankruptcy law and was proposed in good faith.
While the operator, a unit of Catalyst Brands, went through the wind-down alternative instead of a sale, “that’s the result of the market and nothing else,” she said.
The operator, a more than 100-year-old US outdoor apparel retailer, filed for bankruptcy in February citing ...