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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.
Fortunoff, junior lenders reach pact
Now that it's reached an agreement with its junior lien lenders, Fortunoff Fine Jewelry and Silverware LLC will ask a New York judge to dismiss its Chapter 11 case. A judge will consider both the dismissal request and the agreement on Sept. 10. - Carolyn Okomo Vertis, ACG reorg plan cleared Printing companies Vertis Inc. and American Color Graphics Inc. won court approval Tuesday for a bankruptcy plan that will reduce their collective debts by $1 billion and allow the two to combine in the coming weeks. The dual reorganizations, done with the blessing of creditors, and in conjunction with a merger, amount to a bankruptcy court rarity. - Chris Nolter Mervyn's can hold store sales Some of Mervyn's Holdings LLC stores are officially going out of business. A Delaware judge approved going-out-of business sales at 26 Mervyn's Holdings LLC stores. Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC are the liquidators that will conduct sales. - Jamie Mason Pittsfield case may be dismissed The bankruptcy of apparel label maker Pittsfield Weaving Co. will be dismissed Friday if it can't work out its differences with senior lender CapSource Finance LLC. A judge gave Pittsfield 10 business days from the signing of his dismiss order on Aug. 15 instead of appointing a liquidating trustee to distribute the assets under conversion to Chapter 7 liquidation. - Terry Brennan Cadence revisits Ch. 11 The name may have changed, but the circumstances haven't for auto parts supplier Cadence Innovation LLC, which filed for bankruptcy for the second time on Tuesday. - Jamie Mason Categories Deal Video
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