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Cox Enterprises said that it plans to sell the Austin American-Statesman, plus all of its stand-alone community newspapers in North Carolina, Colorado and Texas. It also plans to sell direct mail advertising company Valpak. PRESS RELEASE Cox Enterprises, Inc. announced today that it intends to sell the Austin American-Statesman, its affiliated operations including Austin360.com, […]
SAN FRANCISCO (Reuters) – Regional U.S. department store chain Mervyn's LLC, which filed for bankruptcy protection last month, said on Thursday it would shut 26 of its 176 stores by November. The privately held mid-tier retailer, which operates in Western states, cites problems in the housing market and tighter credit for causing customers to cut […]
NEW YORK (Reuters) – Bankrupt home furnishings retailer Linens 'n Things on Thursday received court approval to close an additional 57 stores. A joint venture between liquidators Hilco Merchant Resources and Gordon Brothers Retail Partners was approved to run the store-closing sales in an order signed on Thursday by U.S. Bankruptcy Judge Mary Walrath in […]
OSLO (Reuters) – Norwegian video conference systems group Tandberg ASA, a $2 billion company, has been approached by a private equity player interested in preliminary talks on a potential takeover offer, Tandberg said. Analysts said the market saw a bid price at around 130-140 Norwegian crowns a share as fair value. The company's stock price […]
NBGI Private Equity, a UK lower mid-market private equity firm, has officially announced the buyout of selected assets from Food & Drink Group, a bars and restaurants group which went into administration having broken its banking covenants earlier in August. No terms were disclosed for the purchase of a portfolio of 17 branded and […]
Doughty Hanson is reported to have made an offer for 52% of the Spanish urgent transport provider Seur. The deal values the company at around EUR1bn (US$1.56bn), according to Spanish newspaper Expansion. Seur is currently 19.6% owned by Geopost, a subsidiary of state postal service La Poste. The company provides urgent transport solutions to customers […]
NEW YORK, July 29 (Reuters) – Department store chain Mervyn's LLC on Tuesday became the latest retailer to file for bankruptcy protection, saying less consumer demand for clothes and home decorating goods led to a “precipitous decline” in its profitability. The privately held retailer, which in its latest fiscal year reported a net loss of […]
Chicago Growth Partners recently announced that it had led a recap of Royall & Co. Holdings, a Richmond, Va.-based provider of recruitment services to traditional colleges and universities. It did not disclose any pricing information, but a regulatory filing reveals that the deal's equity tranche was $92 million. In additional, the filing indicates that Goldman […]
SAN FRANCISCO (Reuters) – Department store chain Mervyn's LLC will file for bankruptcy protection in the next few days barring a last-minute cash infusion, the Wall Street Journal reported on Monday on its website, citing people familiar with the situation. Privately owned Mervyn's did not immediately return a call seeking comment. The lower-cost chain, which […]
CHICAGO, July 25 (Reuters) – Off-price retailer TJX Cos Inc (TJX.N: Quote, Profile, Research, Stock Buzz) is looking to sell its small, money-losing Bob's Stores unit, Bloomberg reported on Friday, citing people with knowledge of the sale process. Bob's Stores, TJX's smallest unit, is a chain of lower-cost, casual clothing and footwear superstores with some […]