Two bidders have joined forces to present a lead offer for Seasons Kosher Supermarkets, the country’s largest kosher grocery chain, WSJ Pro Bankruptcy reported. During a hearing Friday at the U.S. Bankruptcy Court in Brooklyn, N.Y., lawyers for Seasons said the new offer from SKNY LLC, an existing lender, and DC Brothers II LLC would replace an earlier offer from SKNY alone. Court papers show SKNY first lent Seasons $1 million in early 2016 and has continued to make loans to help the company make payroll and pay insurance premiums. DC Brothers II is a third party that had initially competed with SKNY to become the lead, or stalking horse, bidder. The new bid, made in exchange for all the Season’s assets, is for $13.25 million, an increase over the previous $12 million offer from SKNY. A so-called breakup fee included as a provision in the new offer was also reduced to 2 percent from 3 percent, a benefit to Seasons.
