In a recent legal development, chicken restaurant Sticky’s received conditional approval from a Delaware bankruptcy judge to proceed with a contract for the sale of its assets. The sale, valued at $2 million, is set to involve an investment fund as the buyer. This decision comes after Sticky’s faced significant financial challenges, primarily driven by surging poultry prices and the impact of New York City’s congestion pricing program. These factors had complicated Sticky’s efforts to execute a turnaround strategy under Chapter 11 bankruptcy proceedings.
For more detailed information, you can view the original article on Law360.