After an extensive process failed to produce a buyer for K'NEX, there was a public sale of the assets of the company by secured party on January 29, 2018. The sale closed on February 6th 2018.
With only limited exceptions, the purchaser did not assume any liabilities as part of the transaction, and all proceeds from the sale were paid to PNC Bank in satisfaction of its outstanding secured loan. Holders of subordinated and unsecured claims against K’NEX should contact the Assignee (not the Purchaser, which is not liable for these obligations) with questions regarding their claims.
For any questions about the process, please contact the Assignee:
Craig R Jalbert, CIRA
Verdolino & Lowey, P.C
124 Washington, Street, Suite 101
Foxboro, MA 02035
Phone – 508.543.1720
Email – CJalbert@vlpc.com
For all other inquiries, an email address has been set-up to handle all other questions: KNexsupplier@knex.com