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Hampshire Group Selling James Campbell Assets for $1.2 Million

Thursday, 12 January 2017 07:18
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Hampshire Group, Ltd., and affiliates filed with the U.S. Bankruptcy Court for the District of Delaware a notice of solicitation of initial bids, bidding procedures, auction, sale hearing and related relied and dates in connection with the sale by Maverick J and Maverick J, SPE, LLC of their James Campbell assets relating to the James Campbell Brand, to HGL for an aggregate purchase price of $1,250,000, plus the assumption of certain liabilities, plus the payment of Excess Payments equal to 5% of annual Net Sales in excess of $5,000,000 commencing on Dec. 31, 2013 and ending on Dec. 31, 2018, until such time when Maverick J has received an aggregate of $2,500,000 in purchase price, at which time, the percentage of Net Sales to be paid on Excess Payments will be reduced to 2.5%.

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