Hancock Fabrics, Inc. (2016) Bankruptcy New Filing Alert: Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On March 9, 2016, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of Hancock Fabrics, Inc. (2016) and its affiliates.

The filing was assigned docket number 307 and is described on the court’s official docket as follows:

Motion For Sale of Property Free and Clear of Liens under Section 363(f)(FEE) // Debtors’ Motion for Entry of an Order: (A) Setting (1) Date to Conduct Auction of Debtors’ Interests in Certain Nonresidential Real Property Leases, and (2) Hearing Date for Approval of Auction; (B) Approving Bid Procedures and Terms of Auction; (C) Establishing Cure Amounts; (D) Authorizing Debtors to Enter Into Lease Termination Agreements; (E) Approving Abandonment of Personal Property; (F) Approving and Authorizing Sale of Leases to Highest or Best Bidder Free and Clear of All Liens, Interests, Claims and Encumbrances Pursuant to Sections 105, 363, and 365 of the Bankruptcy Code; and (G) Waiving the Requirements of Federal Rules of Bankruptcy Procedure 6004(H) and 6006(D) Fee Amount $176 Filed by Hancock Fabrics, Inc.. Hearing scheduled for 3/23/2016 at 11:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Objections due by 3/22/2016. (Attachments: # (1) Exhibit A # (2) Exhibit B) (Biblo, Rachel)

Hancock Fabrics, Inc. (2016) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on February 2, 2016. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 16-10296. The bankruptcy case is currently assigned to United States Bankruptcy Judge Brendan Linehan Shannon. The law firm of O’Melveny & Myers LLP is acting as lead bankruptcy counsel to Hancock Fabrics, Inc. (2016) in the bankruptcy case.


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