Business Services Industry
Minnesota's Holiday Companies to Buy Remaining Gander Mountain Stores.(Originated from Milwaukee Journal Sentinel)
Knight Ridder/Tribune Business News, October, 1996 by Hajewski, Doris
Oct. 31--Holiday Companies of Bloomington, Minn., has agreed to buy the remaining Gander Mountain stores and to assume all secured debt and expenses for Gander's Chapter 11 bankruptcy filing.
The deal would pay 15.6 cents a share to the holders of 3.2 million outstanding shares of Gander common stock, for a total of $500,000. Goldman, Sachs, & Co., an investment firm that holds all of Gander's preferred stock, also would receive $500,000.
In addition, Holiday would pay $18.5 million to unsecured creditors. Final calculations for unsecured claims have not been made, said Kenneth Bloom, Gander's chief financial officer. The deadline for filing unsecured claims was last week.
In its initial bankruptcy filing in August, Gander listed...
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