Cosmoledo receives court approval to sell all assets to MK USA

By Sarah Lizee

Olympia, Wash., Nov. 2 – Cosmoledo, LLC received court approval to sell substantially all of its assets to stalking horse bidder MK USA, LLC, according to an order filed Monday in the U.S. Bankruptcy Court for the Southern District of New York.

As previously reported, the company named MK USA winning bidder after it received no other timely qualified bids.

The purchase price for the assets is $3 million in cash, plus cure costs relating to any assigned contracts and leases, other assumed liabilities under the sale agreement and a credit bid of $5.4 million.

New York-based Cosmoledo operates fine casual dining restaurants. It filed Chapter 11 bankruptcy on Sept. 10 under case number is 20-12117.

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