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Here are some of the latest bankruptcy stories our reporters have been
covering Friday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.
Hilco-Gordon can shut Linens stores
The auction to pick a liquidator for the shutdown of 79 stores for bankrupt retailer Linens 'N Things Inc. climbed above its wholesale cost of inventory during 30 rounds of fevered bidding, with the team of Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC emerging as the winner. - Terry Brennan Laurus wins Gemini Air Cargo A Delaware judge approved Laurus Master Fund Ltd.'s acquisition of bankrupt Gemini Air Cargo Inc. Laurus won substantially all of Gemini's assets with a $15 million credit bid. - John Blakeley Pappas gets 6th OK for cash use A Delaware judge has for the sixth time granted bankrupt Pappas Telecasting Inc. permission to use cash collateral on an interim basis. The bankrupt operator and owner of television and radio stations have approval to use its cash collateral through Aug. 20. - Dena Smith Plastech unveils liquidation plan Plastech Engineered Products Inc. has unveiled its liquidation plan, which is based on a creditors' settlement that subordinates $180 million in secured claims.The Dearborn, Mich. company will seek approval of the disclosure statement outlining its liquidation on Sept. 12. - Ben Fidler Categories Deal Video
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