Private-equity firm Bristol Capital Advisors LLC has made a $14 million offer to purchase boutique candy retailer Sugarfina Inc. out of bankruptcy, WSJ Pro Bankruptcy reported. Bankruptcy Judge Mary Walrath yesterday approved Los Angeles-based Bristol as the stalking-horse bidder, for Sugarfina’s assets. The offer is subject to higher offers at a proposed auction scheduled for later this month. Bristol’s all-cash bid is an alternative to an earlier offer for the candy retailer’s assets from private-equity firm TerraMar Capital LLC. When Sugarfina filed for bankruptcy, Judge Walrath said that she was concerned the earlier bid could tilt an auction because TerraMar had also offered to provide the retailer’s bankruptcy financing.
