|
|
Article: lillian vernon purchase imminent.(Business)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- April 4, 2008
CopyrightCOPYRIGHT 2008 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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)
|
Byline: GREGORY RICHARDS [bar] THE VIRGINIAN-PILOT
Judge Brendan L. Shannon approved the acquisition of Lillian Vernonby Current USA Inc., a subsidiary of Taylor Corp. , for a base price of $15.8 million. That figure may be adjusted based on the value of inventory and other property. In 2006, Taylor had sales of $1.7 billion, according to Hoover's business information Web site. It has 14,000 employees and more than 100 subsidiaries. A federal bankruptcy judge in Wilmington, Del., cleared the way Thursday for a subsidiary of Minnesota conglomerate Taylor Corp. to purchase bankrupt retailer Lillian Vernon Corp.
Judge Brendan L. Shannon approved Current ...