Cosmoledo, LLC, the operator of U.S. stores of French bakery chain Maison Kayser, filed for Chapter 11 on Sept. 10.
Maison Kayser is an artisanal boulangerie founded in Paris in 1996, named after its founder Eric Kayser. Its first U.S. store opened in New York City in August 2012. The chain now has over 100 shops in over 20 countries.
Most Manhattan locations, which offered a French-style, sit-down cafe and to-go pastries, faced substantial financial challenges due to COVID-19.
Along with its 20 affiliates, Cosmoledo entered into a stalking horse asset purchase agreement with an affiliate of Aurify Brands.
The initial bid on the assets of a bankrupt company occurs in a stalking-horse bid. The method sets the lowest purchase price that other bidders cannot underbid. If no highe...