N.Y. realty company buying Daffy’s out of bankruptcy
New York real estate company JEMB Realty Corp. is buying Daffy's Inc., Reuters reported. The announcement was made one day after the discount retailer filed for bankruptcy protection.
JEMB Realty will pay back all of Daffy's creditors in full. A JEMB affiliate will buy three of Daffy's real estate properties. JEMB will acquire certain intellectual property from Daffy's if the court approves.
Bloomberg reported that JEMB would pay $43 million for Daffy's assets.
The Bloomberg report said Marcia Wilson, Daffy's main shareholder, owns the company along with five family trusts that hold voting stock. (Sources: Reuters, Aug. 2, 2012; Bloomberg, Aug. 2, 2012.)
Posted Wednesday, August 08, 2012 • Permalink
Get the RSS Feed
Recent Posts
Third Pilot Flying J employee pleads guilty
Family takes full control of Porsche holding company
Rupert Murdoch files for divorce
Constellation is now U.S.’s #3 beer supplier
Tyson CEO says Smithfield sale will help Tyson’s exports
Mays brothers still using Clear Channel aircraft
New Pirelli holding company created
Mukesh Ambani seeking revenue from telecom, retail
Zeckendorf brothers developing U.N. Plaza condos
Crain Communications promotes third-generation member