NEWS BRIEFS.(Rhodes Furniture Inc.'s reorganization plan, Best Buy Company Inc.'s stock report)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, June, 2005
RHODES FURNITURE, after closing 27 stores, has filed a Chapter 11 bankruptcy reorganization plan that would give furniture suppliers and other creditors a share of the company to settle outstanding debts. If the proposal is accepted by the federal bankruptcy court in Atlanta, creditors who stand to gain a share of the company will vote on whether to accept the plan. With a favorable vote, creditors with unsecured claims totaling an estimated $59.5 million would be granted varying numbers of shares based on the size of their claims. No date has yet been set for creditors to vote on the plan. The filing stated that Rhodes, which filed Chapter 11 in November, has also pursued a potential sale of some or all of the company's operations...
BEST BUY CO.'S board of...
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