All articles tagged with #bankruptcy auction
7 Brew won a bankruptcy auction to acquire 73 Salad and Go locations for more than $143 million, beating Dutch Bros; 41 of the sites are in Arizona, expanding 7 Brew’s footprint in the state, though not all Salad and Go locations were included in the auction. The sale must be approved at a Sept. 21 court hearing with leaseholders able to object by Sept. 17.
Mercy Hospital in Iowa City has been sold to Preston Hollow Community Capital, one of its principal creditors, in a bankruptcy auction, beating out the University of Iowa Hospitals and Clinics. American Healthcare Systems, a Los Angeles-based healthcare operator, will assume operations of the 194-bed hospital. The new owners are expected to take over hospital operations and finances in mid-November. The hospital will be organized as an Iowa not-for-profit organization with board members comprised of community leaders. The University of Iowa expressed disappointment but is heartened that the selected bidder has committed to keeping Mercy Iowa City as a hospital.
Rocket Lab USA is acquiring some assets from Virgin Orbit in a bankruptcy auction, expanding its aerospace business.
Three aerospace companies, Rocket Lab, Stratolaunch, and Vast, have won the bankruptcy auction for most of the assets of launch company Virgin Orbit, including manufacturing facilities and its Boeing 747 aircraft. The auction results rule out any attempt to keep the company intact and bring it out of bankruptcy under new ownership. Virgin Orbit said it would cease operations after completing the sale of the assets.