Industry News | February 17, 2010
Bankrupt Jack in the Box Units Get a Stalking Horse
The Stalking Horse bidders will now compete with other bidders in a live auction slated for February 23 and 24 in Sacramento. As Stalking Horse bidders, these bidders are entitled to a "breakup fee" if they are not determined to be the highest and best bid in the live auction.
The sale will be conducted in connection with the Chapter 11 Bankruptcy proceedings of these debtors, and will require bankruptcy court approval.
The National Franchise Sales team consists of asset recovery specialist Alan Gallup, NFS vice president Michael Ingram, and former Jack in the Box executive Helen Trent.
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