Allens changes name to Veg Liquidation, drops adviser following sale

By Kali Hays

New York, April 10 - Allens, Inc. obtained court recognition of its name change to Veg Liquidation Inc. along with approval to terminate its employment of Alvarez & Marsal North America, LLC effective March 14, according to two Thursday filings with the U.S. Bankruptcy Court for the Western District of Arkansas.

As previously reported, the company sought to terminate its employment agreement with Alvarez & Marsal, citing lack of resources or continued need for the advisory firm's services since its Feb. 12 sale of substantially all of the company's assets to Sager Creek Acquisition Corp.

Alvarez & Marsal will now be retained by Sager Creek as Veg Liquidation had requested that the firm's services be used by the company "to assist in matters relating to the transition and integration," according to the motion.

Allens, a Siloam Springs, Ark., canned and frozen vegetable company, filed bankruptcy on Oct. 28. The Chapter 11 case number is 13-73597.

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