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Industry: Email Alert RSS FeedNoteholder files suit against Ames execs - Anthony Delano, Ames Department Stores Inc - Marketwatch - column
Discount Store News, March 18, 1991
Noteholder Files Suit Against Ames Execs
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NEW YORK -- Former Ames executives and the chain's investment banker, Wertheim Schroder & Co. were hit with a lawsuit by a disgruntled noteholder who claims the banking firm and Ames management conspired to inflate the price of Ames senior subordinated notes that were issued in early 1989 to refinance the ill-fated acquisition of Zayre Corp. Ames, in Chapter 11, was not named in the action, filed by Anthony Delano of Easton, Conn. In other Ames news, comparable store sales were flat in January, but showed a modest rise in February.
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