LEASES TO GO: Burlington Coat Factory and bankrupt Kmart Corp. will be in Chicago bankruptcy court on Sept. 25 seeking approval of Burlington’s assumption of leases for five former Kmart stores. Two of the leases are in Austin, Tex., while the balance are for stores in Glen Oaks, N.Y., Orlando, Fla. and Lexington, Ky.
EXPANSION ORDER: Bankrupt Warnaco Group is seeking Manhattan bankruptcy court approval to expand the scope of employment of BDO Seidman in connection with its plan to exit Chapter 11 at the end of the month. According to court papers, the accounting firm, which has been working with Warnaco since July 2001, will provide enterprise value analysis and other financial projections that will be included in the firm’s plan of reorganization. A preliminary budget of $365,000 plus out-of-pocket expenses has been set for the firm’s accounting services.
MARZOTTO RESTRUCTURES: The Marzotto family is aiming to restructure its series of holdings in sectors as diverse as textiles, fashion and wine-making. One of the family’s holdings, Industrie Zignago Santa Margherita SpA, said it is offering to buy all outstanding shares in Marzotto SpA, the fashion group that owns Hugo Boss and Valentino. Zignago is offering $16.94 and one Zignago share for every three shares in Marzotto. If all Marzotto shareholders tender their shares, the offer will cost Zignago a total of $407.6 million.?Dollar figures have been converted from the euro at?current exchange. The Marzotto?board is slated to meet today to discuss the proposal.
This story first appeared in the September 9, 2002 issue of WWD. Subscribe Today.