Orchard Brands eyes settlement agreements with Gould, R.R. Donnelley

By Lisa Kerner

Charlotte, N.C., Feb. 16 - Appleseed's Intermediate Holdings LLC, which does business as Orchard Brands, asked the court to approve two separate settlement agreements, according to a pair of Feb. 16 filings with the U.S. Bankruptcy Court for the District of Delaware.

Orchard Brands wants to pay $1,503,000 to Gould Paper Co. to settle its postpetition claim, plus another $5,497,000 in full and final satisfaction of the Gould obligations.

The company also wants the court to OK a new supply agreement with R.R. Donnelley & Sons Co. Orchard Brands owed R.R. Donnelley about $13.6 million before it filed for bankruptcy.

The Gould settlement also includes a new supply agreement.

A hearing on both motions is set for March 1.

Golden Gate Capital's Appleseed's is a Beverly, Mass.-based clothing retailer. The company filed for bankruptcy on Jan. 19, and the Chapter 11 case number is 11-10160.

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