OKA, a British luxury home furnishings brand, had built a notable reputation for high-end home furnishings. However, financial difficulties caused by post-COVID challenges, the British cost-of-living crisis, and persistent U.S. losses led the company to exit the U.S. market. On June 11, 2024, OKA filed for Chapter 7 bankruptcy, which resulted in the closure of its U.S. operations, including retail stores in Houston, Dallas, and Westport, Connecticut, as well as its e-commerce platform.
Rosen Systems was retained to manage the liquidation of the stores’ assets. The goal was to maximize returns for creditors, citing priority liabilities ranging from $500K–$1 MIL, while adhering to bankruptcy guidelines within a tight timeline.
OKA's abrupt closure of U.S. operations presented several challenges:
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Rosen Systems successfully completes liquidation of all three U.S. stores, totaling $994,007.38 in auction proceeds.
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