Footstar gets court approval to sell Orlando, Knoxville properties

By Jeff Pines

Washington, Oct. 14 - Footstar Inc. obtained court approval to sell its Orlando, Fla., and Knoxville, Tenn., properties, according to orders filed with the U.S. Bankruptcy Court for the Southern District of New York Thursday.

Steven Levin, the stalking horse bidder, decided not to challenge a competing bid of $2.1 million for the Orlando property from the Katz Family Trust. Levin's stalking horse bid was $1.75 million.

There were no other bidders for the Knoxville property, which sold for $1.4 million to Levin.

Footstar, a West Nyack, N.Y., footwear company, filed for bankruptcy on March 2, 2004. Its Chapter 11 case number is 04-22350.

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