Sur La Table Inc., a privately held upscale kitchenware retailer, has sold for approximately $90 million. The company filed for bankruptcy last month.
The company initiated its restructuring effort under Chapter 11 of the U.S. Bankruptcy Code on July 8, 2020. The corporation’s strategy has been to sell the company, including its retail stores, cooking classes, and eCommerce.
Following the company’s filing, Fortress Investment Group collaborated with investment firm Story3 Capital Partners as the stalking-horse bidder. The owner of the winning bidder is currently unknown.
The sale includes a promise to keep 50 or more of the company’s retail stores open, according to Bloomberg.com. Additionally, gift cards and other liabilities that are val...