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Article: Bi-Mart buyout deadline passes.(Business)(The Eugene-based retailer had given employees several weeks to decide on a stock ownership plan)
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- February 20, 2004
CopyrightCOPYRIGHT 2004 The Register Guard. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Edward Russo The Register-Guard
A key deadline for Bi-Mart Corp. came and went without word from the Eugene-based retail chain.
Bi-Mart employees had until Thursday afternoon to decide if they want to use part of their retirement savings to buy the 64-store chain for $94 million through an Employee Stock Ownership Plan, or ESOP.
The proposed transaction is important to Lane County. Bi-Mart employs more than 300 people at its west Eugene headquarters, and more than 500 others in 10 Lane County stores.
Its annual Lane County payroll exceeds $24 million.
Attempts to learn how many employees elected to participate in the ...