Keen-Summit Capital Partners LLC Engaged to Market Assets for a November 20th Auction
Keen-Summit Capital Partners LLC November 2, 2015
NEW YORK, NEW YORK – Organic Avenue LLC filed Chapter 7 bankruptcy on October 15, 2015. Until recently, Organic Avenue was the premiere grab-and-go destination for organic, plant based foods and snacks in New York City. Jil Mazer-Marino, Esq. has been appointed as the Chapter 7 trustee by the Office of the United States Trustee and (subject to Bankruptcy Court approval) she has retained Keen-Summit Capital Partners LLC to market Organic Avenue’s assets for sale on a turnkey or piecemeal basis. Organic Avenue operated ten retail locations throughout New York City as well as a Queens-based commissary. The company shut its doors earlier this month.
The Trustee, through Keen-Summit, is now selling Organic Avenue’s retail, commissary and warehouse leases; its intellectual property; and its furniture, fixtures, machinery and equipment, if such FF&E and M&E is sold as part of a turnkey sale. If the FF&E and M&E are not sold on a turnkey basis, the Trustee is engaging a liquidator to handle the piecemeal sale of FF&E and M&E.
According to Harold Bordwin, Keen-Summit’s Principal and Managing Director, “This offering represents an extraordinary opportunity for a strategic buyer to quickly create or expand a market presence in prime Manhattan locations. Moreover, Organic Avenue’s I/P represents over 14 years of brand recognition in an expanding market.”
The bid process (which is pending Bankruptcy Court approval) will enable buyers to bid on all of the debtor’s assets individually or as a package. It is anticipated that bids will be due on November 18, 2015, followed by an auction on November 20, 2015. The Bidding Procedures and additional information regarding the offering are available by contacting Keen-Summit Capital Partners LLC at (646) 381-9222, by visiting www.keen-summit.com or by emailing hbordwin@keensummit.com, mbordwin@keen-summit.com, rtramantano@keen-summit.com or dgreenspan@keen-summit.com.
About Keen-Summit Capital Partners LLC
Since 1982 – for 33 years – Keen-Summit’s professionals have been successfully executing real estate and M&A transactions for financially challenged businesses and their creditors. With more than 150 years of combined experience (covering more than 3 billion square feet of real estate, constituting over $3 billion in transactions and encompassing more than 27,000 properties), the professionals at Keen-Summit offer their clients best-in-class lease restructuring services, real estate disposition, M&A and capital markets solutions. For more information about Keen-Summit Capital Partners LLC, call 646.381.9222 or visit www.keen-summit.com.
