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Here are some of the latest bankruptcy stories our reporters have been
covering Wednesday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Linens 'n Things sets next steps
Linens 'n Things Inc. wants court approval to sell 120 leases and close an additional 87 stores. A judge will consider the bidding procedures for the leases and the store closing sales on July 11. Linens Holding Co., the parent of household retailer Linens 'n Things, has retained DJM Asset Management LLC to market the leases. Bids for the stores leases are due on July 21. Linens wants to hold the auction on July 24. - Jamie Mason Solar Cosmetics wins sale OK Private equity-backed Solar Cosmetic Labs Inc. won approval for a stalking-horse agreement to sell its intellectual property and inventory for $4 million in cash. The asset purchase agreement with Village Suncare LLC was approved. The debtor is a Miami Gardens, Fla.-based maker of skin-care products. A judge set an auction date for July 24 if other formal bids are filed and deemed to be qualified and July 25 for a sale hearing. - Terry Brennan AHM seeks to sell 82 loans Melville, N.Y.-based American Home Mortgage Investment Corp. will ask a Delaware judge for approval to sell 82 of its unencumbered nonperforming mortgage loans to stalking-horse bidder Beltway Capital LLC for roughly $10.8 million. The request will be considered on July 17. Competing bids for the loans, as well as objections to the sale, are due by July 14. An auction is also scheduled two days later while a sale closing is set for July 18, court documents said. - Carolyn Okomo Syntax-Brillian falls flat Declining sales, liquidity concerns and accounting problems finally caught up with flat-screen television and digital camera manufacturer Syntax-Brillian Corp., which filed for bankruptcy Tuesday with an agreement to sell its assets to an affiliate of TCV Group. - John Blakeley Categories Deal Video
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