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USA Discounters gets nod to start Fletcher’s Jewelers closing sales
By Caroline Salls
Pittsburgh, Oct. 14 – USA Discounters Ltd. obtained court approval to conduct store-closing sales involving seven Fletcher’s Jewelers stores, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.
According to the motion, “if USA Discounters is not allowed to commence the sales, its estate would suffer significant detriment from the resulting delay, added post-petition expenses, depreciation in the value of the merchandise and further time and efforts that would be required to reformulate a different liquidation strategy.”
The motion also said the company concluded the best path to maximizing value available to creditors would be to begin liquidating the remaining stores.
USA Discounters, a Norfolk, Va.-based retailer, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 15-11755.
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