Newberry Specialty Bakers, Inc. filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on April 6, 2018. The debtor seeks the Court’s approval for the sale of substantially all its assets to Mark Martin the stalking horse bidder, for a purchase price of $0.68 million plus waiver of the administrative claims of approximately $0.17 million. The qualified bidder must make a payment of $0.02 million at the time of making competing bid. The initial minimum competing bid should be at least $0.02 million more than the purchase price. The subsequent bid of the purchaser shall be considered by the seller and each subsequent bid shall be not less than $0.01 million. In case of competing offer approved by the court the debtor will pay buyer the sum of $0.02 million representing return of the forfeitable amount. In addition if a competing offer is approved by the court and closes, would be entitled to a break-up fee and expense reimbursement, the sum of which shall not exceed 3% of the higher and better offer. The closing of the sale must be no later than April 30, 2018.