Auction planned for Barbeques Galore
Barbeques Galore, a chain of 65 stores selling barbecues and accessories in four western states, will auction off its inventory, intellectual property and store leases on Sept. 10, according to Bloomberg News. A U.S. bankruptcy judge in Woodland Hills Calif., has approved the sale.
The Carlsbad, Calif.-based store declared Chapter 11 bankruptcy protection last month. The plunge in home sales helped push the retailer into insolvency, according to court papers. Barbeques Galore owes approximately $50 million on a revolving credit loan and unsecured debt, according to Bloomberg.
The company’s stores are concentrated in California, Texas, Arizona and Nevada. Barbeques Galore sells private-label grills manufactured in China as well as name brands.