Alfred Angelo trustee looks to continue operation, use cash collateral

By Caroline Salls

Pittsburgh, Sept. 1 – Alfred Angelo Newco, Inc.’s Chapter 7 trustee requested emergency court approval to operate the company’s businesses on a limited basis and access cash collateral through Sept. 8, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

This is the trustee’s third request for continuation of operations and use of cash collateral.

Chapter 7 trustee Margaret J. Smith said access to cash collateral is necessary “to continue to further her objective of efficiently administering these estates for the benefit of all creditors and interested parties, including funding the payment of necessary insurance premiums and certain lease payments to finish up an inventory sale.”

Alfred Angelo is a Palm Beach, Fla.-based bridal retailer. The company filed bankruptcy on July 14 under Chapter 7 case number 17-18864.

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