Rockport closes sale of assets to units of Authentic Brands

By Sarah Lizee

Olympia, Wash., Aug. 10 – Rockport Co., LLC closed the sale of its assets to stalking horse bidders ABG-Regatta LLC and ABG Intermediate Holdings, units of Authentic Brands Group, according to a notice filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The consideration under the stalking horse agreement includes $40.4 million for intellectual property, $5 million for Rockport Co. Korea Ltd., $100,000 for Calzados Rockport SL, Rockport International Ltd. and Rockport Co., Portugal, Unipessoal, Lda., among other amounts. The final consideration will depended on certain criteria and formulas for valuing inventory.

Rockport, a West Newton, Mass.-based footwear company, filed its first bankruptcy case on May 14, 2018, and emerged from those proceedings on Dec. 31, 2018. The company filed bankruptcy a second time on June 14 under Chapter 11 case number 23-10774.

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