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Garden Botanika Bankruptcy Forces Auction of 106 Retail Leases

REDMOND, WA-With its effort to restructure under the umbrella of Chapter 11 bankruptcy having failed, the cosmetic and toiletries retail is now left to liquidate its assets, which include leases on 106 stores in 28 states.

By Janet Parker | Updated on March 07, 2001

REDMOND, WA-Two years after filing for protection under Chapter 11 of the U.S. Bankruptcy Code, Garden Botankia is calling it quits.

According to bankruptcy records, the Redmond-based cosmetic and toiletries and retail company received an offer for its line of personal-care products from St. Louis-based Schroeder & Tremayne Inc., a prominent manufacturer of beauty and bath products. With the disposition of its products moving forward, the next step is the liquidation of Garden Botanika’s retail leases.

Handling the disposition is Keen Realty LLC, a subsidiary of New York-based Keen Consultants LLC. Keen’s real estate arm specializes in the restructuring of retail real estate and lease portfolios, as well as the disposition of excess assets.

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