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Article: Shlensky out, Grosfeld in: Sure Fit's new era.(Salo Grosfeld)(Bert Shlensky)(Sure Fit Inc.,)
- Article from:
- Home Textiles Today
- Article date:
- August 23, 2004
- Author:
CopyrightCOPYRIGHT 2004 Reed Business Information, Inc. (US). 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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NEW YORK -- Former Sure Fit President and CEO Bert Shlensky has officially left the company now headed by JR United President Salo Grosfeld, effective Aug. 19.
At the 11th hour, Grosfeld and DE Shaw purchased the slipcover manufacturer for $16.5 million in cash plus $4 million in operating liabilities in an auction that was approved by the U.S. Bankruptcy Court of the Southern District of New York on Aug. 5.
"We mutually decided it was better for me to pursue my future and them to pursue their own directions," explained Shlensky, adding that he hopes to stay in the textiles industry. The new investors had originally hoped he would stay on in an advisory ...