Overview
- ATK agreed to acquire certain Food52 assets through a bankruptcy sale process and is serving as the stalking-horse bidder.
- The offer is valued at $6.5 million and includes up to $3.42 million in Chapter 11 financing, according to court filings reported by Bloomberg.
- Food52 filed for Chapter 11 protection in Delaware on Dec. 29, listing at least $1 million in assets and at least $10 million in liabilities.
- The proposed sale remains subject to higher bids at an upcoming auction and to approval by the bankruptcy court.
- Food52 says lender Avidbank swept nearly all its cash on Dec. 15, reversing payroll and benefits, which led to major layoffs before the bank authorized funds to cover wages and most health premiums.