HAMPQ .0065 $900,000 ACQUISITION >>> Item 1.01 Entry into a Material D efinitive Agreement.
Item 2.01 Completion of Acquisition or Disposition of Assets.
On January 13, 2017, Hampshire Group, Limited (the “Company”) and Hampshire Brands, Inc. (collectively with the Company, the “Sellers”) received Delaware Bankruptcy Court approval to enter into, and thereafter entered into, an Asset Purchase Agreement (the “APA”) with The Fashion Exchange LLC or its designee (“Buyer”) pursuant to which the Sellers agreed to sell the assets of the James Campbell business, including certain intellectual property, inventory, equipment and contract rights, to Buyer for a purchase price of approximately $0.9 million and assumption of certain liabilities. The APA was entered into pursuant to an auction conducted under the provisions of the Bankruptcy Code and supervision of the Bankruptcy Court. The sale was completed on January 19, 2017.
The description of the APA is qualified in its entirety by reference to the complete text of the APA, a copy of which is filed as an Exhibit to this report and incorporated into this report by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits .
Exhibit No .Description
2.1
Asset Purchase Agreement dated as of January 13, 2017 among Hampshire Group, Limited, Hampshire Brands, Inc. and The Fashion Exchange LLC. Omitted schedules and exhibits will be supplied to the SEC upon request.
Everything I say is in my opinion, do your own DD and make your decision wisely! Don't spend more then you can afford to lose!
