Standard Register, which made the filing in response to objections to the sales process for its assets, said a longer sales process might have resulted in a lower purchase price.
“[T]he enterprise value of the business is like a melting ice cube: the longer the company is in bankruptcy, the greater the risk to the company’s survival,” documents said.
An auction of the company is scheduled today. Standard Register said the name of the successful bidder won’t be announced until Wednesday, when the U.S. Bankruptcy Court will confirm the new owner.
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