BowFlex OK'd For April Auction, $37.5M Stalking Horse Bid
By: Clara Geoghegan
Fitness equipment maker BowFlex Inc. received a New Jersey bankruptcy judge's approval Friday to sell its U.S. and Canada businesses at an auction next month, setting it up to repay its debtor-in-possession loan and draw up a Chapter 11 liquidation plan.
U.S. Bankruptcy Judge Andrew B. Altenburg Jr. after a hearing signed off on BowFlex's bidding procedures for an April 8 auction with a $37.5 million stalking horse bid from Taiwanese exercise equipment manufacturer Johnson Health Tech.
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