A bankruptcy court judge yesterday approved the bidding procedures for Boater’s World’s assets, with an auction scheduled for noon Tuesday in New York, according to court documents.
Bids are due Monday. A hearing to approve any subsequent transaction is set for March 19.
Ritz Camera Centers, the parent company of Boater’s World, filed for bankruptcy protection last month in Delaware. In court filings, Ritz says selling the business and/or assets of its Boater’s World Marine Centers is necessary to maintain Ritz’s “long-term viability and successful reorganization.”
At the time of its Feb. 22 filing, Ritz operated 130 Boater’s World stores.