Halloween and celebration costume large Rubie’s Costume Co. gained approval of its Chapter 11 liquidation plan that pays collectors with the proceeds of a $140 million sale.
The plan accepted Wednesday pays secured collectors in full and offers recoveries of between 34% and 61% to unsecured collectors, which have claims between $7 million and $11 million, in keeping with the corporate’s disclosures.
Present shareholders’ fairness pursuits are extinguished. However the Beige household, which based Rubie’s and operated the corporate for 70 years, has a 30% stake in Rubies II LLC, the corporate that bought the enterprise.
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