(Bloomberg) — Destination Maternity Corp. canceled its bankruptcy auction and Marquee Brands LLC was declared the winner, making it likely that the chain’s stores will be shut down.The cancellation was disclosed in a court filing Monday, signaling that no other qualified bids were received by last week’s deadline. Plans previously disclosed call for Marquee to shutter the brick-and-mortar outlets but keep the brand alive online and possibly inside department stores.Marquee will get the retailer’s name, website and other operating assets for about $50 million. Hilco Merchant Resources and Gordon Brothers Retail Partners would run store-closing sales at its remaining 235 …read more
Source:: Yahoo Finance
