Fleer Sold
stormsurge
Posts: 858 ✭✭
"Saddled with debt in a dying industry, trading card maker Fleer/SkyBox International LP is scheduled to begin selling its assets July 14.
Fleer owes between $30 million and $35 million to about 300 creditors, which include former Major League Baseball players Cal Ripken, Henry Aaron and Ernie Banks and other athletes in the National Basketball Association and National Hockey League. The company reported $3.1 million in assets in a court filing.
The company announced July 1 that it had entered into an asset purchase agreement with Carlsbad, Calif.-based Upper Deck Co. LLC as a stalking-horse bidder to buy the intellectual property of Fleer and the assets of Fleer Collectibles LLC for $2 million. The auction is scheduled for today and is subject to court approval."
Fleer owes between $30 million and $35 million to about 300 creditors, which include former Major League Baseball players Cal Ripken, Henry Aaron and Ernie Banks and other athletes in the National Basketball Association and National Hockey League. The company reported $3.1 million in assets in a court filing.
The company announced July 1 that it had entered into an asset purchase agreement with Carlsbad, Calif.-based Upper Deck Co. LLC as a stalking-horse bidder to buy the intellectual property of Fleer and the assets of Fleer Collectibles LLC for $2 million. The auction is scheduled for today and is subject to court approval."
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It will be intresting to see how it all plays out in the end.