San­power-backed group buys lux­ury re­tailer Brook­stone

China Daily (Canada) - - BUSINESS -

Brook­stone Inc, the bank­rupt lux­ury-gad­get re­tailer, has agreed to sell its as­sets to a group of Chi­nese buy­ers for more than $173 mil­lion at an auc­tion, a lawyer said. A com­pany backed by Chi­nese re­tail con­glom­er­ate San­power Group andHong Kong-based pri­vate-eq­uity firm Sail­ing Cap­i­tal won the auc­tion onWed­nes­day af­ter Brook­stone de­cided they had sub­mit­ted the high­est and best bid, said CathyHer­sh­copf, a lawyer for un­se­cured cred­i­tors.

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