Le Pain Quotidien freed from 59 leases in bankruptcy

Upscale bakery chain Le Pain Quotidien will be allowed to break 59 of its leases, in a decision the judge acknowledged is “unusual.” The company filed for Chapter 11 bankruptcy protection, which allowed it to pare down debt and complete a $3 million sale to Aurify Brands pending court approval, Bloomberg reported. “The relief requested is unusual, but these are unusual times,” U.S. bankruptcy Judge John Dorsey said of Le Pain Quotidien’s request for immediate

source https://therealdeal.com/2020/05/29/le-pain-quotidien-freed-from-59-leases-in-bankruptcy/