Former Rockport gets interim approval to use cash collateral

By Sarah Lizee

Olympia, Wash., Oct. 13 – RP Co. Liquidating, LLC, formerly Rockport Co., LLC, secured interim and final orders authorizing post-petition use of cash collateral, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

Subordniated note agents Charlesbank Equity Fund IX, LP and Charlesbank Equity Fund IX, LP and affiliated noteholders have an interest in the cash collateral.

Proceeds would be used for general operating, corporate and working capital purposes; the costs and expenses of administering the Chapter 11 cases; and payment of the adequate protection obligations provided in the interim order.

A final hearing is scheduled for Oct. 25.

Rockport, a West Newton, Mass.-based footwear company, filed its first bankruptcy case on May 14, 2018, and emerged from those proceedings on Dec. 31, 2018. The company filed bankruptcy a second time on June 14 under Chapter 11 case number 23-10774.

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