Destination Maternity secures court OK of $50 million asset sale

By Caroline Salls

Pittsburgh, Dec. 13 – Destination Maternity Corp. obtained court approval of the sale of substantially all of its assets to Marquee Brands, LLC, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Marquee has agreed to pay $50 million for the assets, which include Destination Maternity’s e-commerce business, intellectual property, store-in-store operations and the right to designate the sale of specified inventory and related assets.

Destination Maternity is a clothing retailer based in Moorestown, N.J. The company filed bankruptcy on Oct. 21 under Chapter 11 case number 19-12256.

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