MacKeyser/American Optical Services Makes Second Bankruptcy Court Appearance, Schedules Auction of Certain Assets

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WILMINGTON, Del.—The Chapter 11 bankruptcy proceedings for MacKeyser Holdings, LLC and its subsidiaries, which include American Optical Services (AOS) and a number of other optical businesses the company had acquired prior to its bankruptcy, proceeded last week with the company’s second court appearance on July 16. Under Chapter 11 protection, the companies will “continue to operate their businesses and manage their properties as debtors in possession,” according to the order issued July 16 by U.S. Bankruptcy Judge Christopher S. Sontchi in the U.S. Bankruptcy Court for the District of Delaware.
 
“All motions were approved, and we are moving forward with the wind down,” MacKeyser CEO Thomas Allison told VMail, referring to how the company will handle the 80 optical multiple-location practices it operates in 14 states. Some will be closed, some will be sold, and some will remain open to allow their previous owners to have 60 days to buy their practice back from AOS, as previously reported by VMail after MacKeyser’s first day appearing in bankruptcy court on June 24, 2014.
 
In addition to Wednesday’s court orders related to financing and other managerial functions that will enable the company to maintain its day-to-day operations, among the provisions in the orders issued by Judge Sontchi on Wednesday July 16 was the authorization “to sell certain furniture, fixtures and equipment and inventory” through Tiger Remarketing Services. Bidding opens today, July 21, and will remain open for one week for the auction of “ophthalmic and optometry equipment, over 20,000 designer frames, medical office equipment, furniture, fixtures and more” from “12 optical offices nationwide,” according to the Tiger website.
 
The next court hearing date is scheduled for Aug. 7, 2014.