Daily Herald / Bankrupt N.J. pharmacy chain to sell to Walgreens

April 28, 2009

SUMMARY

Drug Fair Group Inc., the bankrupt New Jersey pharmacy operator owned by Sun Capital Partners LLC, won court permission to sell a majority of its stores to a unit of Walgreen Co. for about $56 million. Drug Fair received authority to hire Hudson Capital Partners LLC to conduct going-out-of-business sales at 23 stores that Walgreen didn't agree to buy. Hudson guaranteed a recovery of at least 44 percent on the value of inventory.

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