DC Coffee Chain Looks to Sell Stores During Chapter 11 Bankruptcy
McCarter partners Michael MacClary, Jeffrey Testa, and Ted Grannatt helped coffeehouse chain Caffè Nero obtain DC bankruptcy court approval of its winning bid from a Chapter 11 auction of assets and locations of debtor DC coffee chain Compass Coffee. “We are pleased that the court approved Caffè Nero’s winning bid to purchase substantially all of Compass Coffee’s assets and locations out of bankruptcy,” McCarter bankruptcy partner Jeffrey Testa told Law360. “The court’s approval clears the way for Caffè Nero to position itself as a significant new entrant into the Washington, D.C., coffee market.”
The McCarter team worked quickly since the debtor filed bankruptcy in January to help Caffè Nero prepare its winning bid and obtain final approval.