Creditors will soon be able to vote on Baker & Taylor’s liquidation plans after the company abruptly closed down last year and filed for bankruptcy in March. As suggested when they filed, the company has scant assets to distribute — about $1.8 million in cash and various accounts, according to a filing in New Jersey bankruptcy court — and debts of over $106 million. They have about $60,000 in inventory, “but substantially all of the inventory is subject to claims of suppliers and asset purchasers,” so the “likely value of the inventory to the estate, net of such claims, is […]
