Gold Standard Baking Gets Court OK For $20M Sale 1 Gold Standard Baking Gets Court OK For $20M Sale

Gold Standard Baking Gets Court OK For $20M Sale

By Leslie A. Pappas (August 3, 2022, 4:01 PM EDT) — Gold Standard Baking LLC won a bankruptcy court’s approval Wednesday to sell its business to 37 Baking Holdings LLC for $20 million in credit plus assumed liabilities, allowing the Chicago-based bakery to keep operating as a going concern.

U.S. Bankruptcy Judge J. Kate Stickles approved the sale at a virtual hearing Wednesday despite an objection from the U.S. trustee’s office about the language in one paragraph of the sale order.

“If 37 Baking is unable to consummate sale, it’s highly unlikely” that Gold Standard will find another buyer and the company would probably go into liquidation, which would harm its creditors,…