Company Overview of ALCO Stores, Inc.
ALCO Stores, Inc. operates as a regional broad line retailer in the central United States. Its ALCO stores offer a range of merchandise consisting of approximately 35,000 items, including automotive, consumables and commodities, crafts, domestics, electronics, furniture, hardware, health and beauty aids, housewares, jewelry, pre-recorded music and video, sporting goods, seasonal items, stationery, and toys, as well as ladies’, men’s, and children’s apparel and shoes. As of May 5, 2014, the company operated 198 stores. It also sells video games and electronics, housewares, appliances and furniture, health and beauty aids, baby goods, office supplies, automotive and sporting goods, and other p...
751 Freeport Parkway
Coppell, TX 75019
Founded in 1901
Key Executives for ALCO Stores, Inc.
ALCO Stores, Inc. does not have any Key Executives recorded.
ALCO Stores, Inc. Key Developments
Motion for Asset Sale Approved for ALCO Stores, Inc.
Jun 9 15
The US Bankruptcy Court approved the sale of certain assets of ALCO Stores, Inc. on June 9, 2015. As per the order, debtor has been authorized to sell certain owned real and personal property. Next Generation Properties of Nebraska, LLC submitted the highest and best offer for certain assets of the debtor, including property in Ogallaha, Nebraska for $0.05 million, as per the agreement dated May 13, 2015. Buyer has submitted an earnest money deposit of $5,000. Transaction is expected to close by June 30, 2015. DGS-Acquisitions, LLC submitted the highest and best offer for Patronage certificate #32846 of $0.32 million. A&G Realty Partners, LLC represent as real estate consultant. Charles L. Corbett of Corbett, Anderson, Corbett, Vellinga & Irvin, LLP acted as legal counsel for the Next Generation Properties of Nebraska, LLC.
First Amended Liquidation Plan Approved for ALCO Stores, Inc.
Jun 3 15
The US Bankruptcy Court approved the amended plan of liquidation of ALCO Stores, Inc. on June 3, 2015. As per the plan filed, administrative expense claims of $9.23 million, US Trustee fees, professional fees of $2.1 million and priority tax claims of $0.93 million and other priority claims will be paid in full in cash. Allowed secured claims will be paid in full in cash. General Unsecured Claims of $49.5 million will have a recovery of 1% amounting to a total recovery of $0.5 million. Subordinated claims will receive no distribution. Equity interests will be cancelled and will not receive any distribution. The plan will be funded by cash in hand and asset sale.
Bidding Procedure Approved for ALCO Stores, Inc.
Apr 14 15
The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of certain assets of ALCO Stores, Inc. on April 14, 2015. The debtor’s assets include against MasterCard and Visa. To qualify as a qualified bidder, interested parties should submit their bids by April 16, 2015. The initial minimum overbid should be in the amount of $0.01 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on April 20, 2015. The sale hearing is scheduled for May 12, 2015.
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