Former Anchor Blue withdraws bankruptcy case dismissal motion

By Caroline Salls

Pittsburgh, March 5 - Hub Holding Corp., formerly Anchor Blue Retail Group, withdrew its motion to dismiss its Chapter 11 bankruptcy case, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company said it was withdrawing the motion after a March 3 status conference on the dismissal without giving up its right to refile the dismissal motion.

As previously reported, in light of the completion of two going-concern assets sales and the conclusion of store-closing sales, Hub said it no longer has any ongoing retail business operations.

The company said it has no reasonable chance of rehabilitation.

In addition, Hub said it cannot file a plan of liquidation because it does not have enough funding to make distributions to unsecured creditors.

Anchor Blue, an Ontario, Calif., holding company for its Anchor Blue Division and Levi's & Dockers Outlet by MOST Division subsidiaries, filed for bankruptcy on April 27, 2009. The Chapter 11 case number is 09-11770.

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