SOURCE: Scrubs & Beyond

Scrubs & Beyond

May 30, 2013 18:44 ET

Scrubs & Beyond to Acquire Life Uniform

ST. LOUIS, MO--(Marketwired - May 30, 2013) - Scrubs & Beyond, LLC announced today that it has entered into a stalking horse asset purchase agreement with Healthcare Uniform Company, Inc. and Uniform City National, Inc. (collectively, "Life Uniform") to acquire substantially all of the operating assets of Life Uniform.

Life Uniform filed the stalking horse asset purchase agreement with the United States Bankruptcy Court for the District of Delaware along with a motion seeking the establishment of bidding procedures for an auction that allows other qualified bidders to submit higher or otherwise better offers, as required under Section 363 of the U.S. Bankruptcy Code. Following completion of the bidding process, final approval of the U.S. Bankruptcy Court will be required.

Scrubs & Beyond intends to acquire a substantial number of Life Uniform's retail stores, operated under the Life Uniform and Uniform City brand names, in addition to the Life Uniform and Uniform City websites, which Scrubs & Beyond would continue to operate post-acquisition.

Karla Bakersmith, President and CEO of Scrubs & Beyond, said, "I spent nearly 13 years with Life Uniform before starting Scrubs & Beyond and I am excited by the business prospects made possible by the proposed acquisition. This is an exciting opportunity for Scrubs & Beyond to expand its retail footprint and provide greater support for outside sales, a rapidly growing part of our business, and a strategic imperative for our future."

Bakersmith added, "The most exciting part of this acquisition is the opportunity for Scrubs & Beyond to become the largest retailer in our industry and to continue to innovate, offer new and unique products, and set the standard for great customer service."

Genesis Capital, LLC is acting as investment banker and Ballard Spahr LLP is providing legal counsel to Scrubs & Beyond. Morgan Joseph TriArtisan LLC is acting as investment banker and Klehr Harrison Harvey Branzburg LLP is providing legal counsel to Life Uniform. Robert Frezza of Capstone Advisory Group, LLC has been engaged by Life Uniform to serve as its Chief Restructuring Officer during the bankruptcy process.

Life Uniform will hold an auction if the Company receives additional qualified bids. Interested parties should contact Morgan Joseph TriArtisan LLC at 404.585.2200.

About Scrubs & Beyond, LLC

The goal of Scrubs & Beyond is to exceed customer expectations, so whether you shop from their expanded offerings online, or in one of their 27 stores nationwide, you can count on top notch customer service, superior quality and great selection. If you live near one of their stores, they would love to see you! Visit www.scrubsandbeyond.com/StoreLocations.aspx for a complete listing of the current Scrubs & Beyond store locations and hours of operation, or shop online any time to see all of the product offerings at www.scrubsandbeyond.com

About Life Uniform, Inc.

Life Uniform is the country's largest retailer of healthcare apparel, scrubs, medical uniforms, nursing scrubs, nursing uniforms, hospital scrubs, nurses shoes, Cherokee scrubs, Barco Uniforms, lab coats, Landau scrubs, maternity scrubs, medical uniforms, nursing uniforms and supplies, Life Uniform, healthcare uniforms, nurses scrubs and medical apparel. We look forward to serving you in one of our stores nationwide or online at www.lifeuniform.com.