- Getty Images
The search for buyers for the empty Revel Casino Hotel will begin again on Tuesday.
Bankruptcy lawyers will reopen the auction, which was cut short last week in observance of a Jewish holiday, at 9 a.m. at a Manhattan law firm’s office.
The 47-story-tall resort, which cost $2.4 billion to build, is expected to sell for a small fraction of that. Florida real estate developer Glenn Straub, for example, has offered $90 million in cash.
Rival bidders could include Richard Meruelo, whose family invests in real estate and unsuccessfully bid on the nearby Trump Plaza casino.
The top bid will need approval from U.S. Bankruptcy Judge Gloria Burns.
The casino and hotel shut its doors early this month after it couldn’t find a buyer to help it avoid its second bankruptcy since opening in 2012. Prior to shutting down, Revel had employed more than 3,000 people, according to documents filed in U.S. Bankruptcy Court in Camden, N.J.
Children’s clothing chain Naartjie Custom Kids Inc. plans to pick a liquidator next week to run going-out-of-business sales at the company’s 55 U.S. stores.