Orchard Supply Hardware Stores Corp. is seeking court approval of a settlement the hardware and garden chain says will save it from costly legal battles with its key creditors, Dow Jones Daily Bankruptcy Review reported today. The deal promises Orchard's lenders and unsecured creditors a cut of the proceeds from the company's $205 million sale to Lowe's Cos. or other assets, avoiding a courtroom showdown over the amount of money each creditor group is entitled to receive.
