Dots wins approval for Gordon Brothers to conduct store-closing sales

By Kali Hays

New York, Feb. 27 - Dots, LLC received court approval to sell its assets through store-closing sales, with Gordon Brothers Retail Partners, LLC approved to conduct the sales, according to a Thursday order from the U.S. Bankruptcy Court for the District of New Jersey.

Dots is now "free and clear of any and all liens, claims and encumbrances of any kind," the order stated.

As previously reported, Gordon Brothers was confirmed as the stalking horse bidder on Feb. 20. The approved agreement guarantees Dots will receive 48.5% of the retail price of the merchandise sold.

The single objection to the sale by Innotrac Corp. was resolved at the hearing.

Dots, a Glenwillow, Ohio-based women's clothing and accessories retailer, filed for bankruptcy on Jan. 20 under Chapter 11 case number 14-11016.

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