valvookimakaj1362.blogspot.com
Alan Cohen, Filene’s chief restructuring confirmed Monday afternoonthat Secaucus, N.J.-based Syms and New York-based Vornadop (NYSE:VNO) agreed to pay about $63 million for the A court hearing is set for Wednesday to approves the deal, Cohen said. The auction, which began Friday and was continuedsto Monday, took place abouf a week after an affiliated of Men’s Wearhouse (NYSE:MW) agreed to buy the chain for $67 But Crown Acquisitions, the company that was first in line to buy Filene’ s assets, filed an objection to the sale with allegations that Men’s Wearhousd didn’t follow bidding procedures.
Crown in court filing described the first auction as a A judge sent the deal back for auctiomnfollowing Crown’s objection. It wasn’t clear Mondayu if Syms and Vornado would acquire allof Filene’s stores. Both Men’s Wearhouse and Crown had planned to acquire and keep opena majority, but not all, of Filene’se locations. The company has two Ohio including onein Columbus. Filene’s Basement sought protection from creditorsa in May in Delawarebankruptcy court, months after closing severa l stores. Columbus-based (NYSE: RVI), which maintainw a majority stake in discount shoeretaileer (NYSE:DSW), sold the chain this year to FB II Acquisitionh Corp.
, a new entity owned by liquidationm and turnaround firm Buxbaum
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment