Oreck Family Loses Bankrupt Vacuum Co. To Rival
The terms of the sale were not disclosed, but the bid by Royal Appliance Manufacturing Co. beat the Oreck family’s $23 million stalking horse bid made in May, according to an Oreck Corp. spokesman.
A court hearing for approval will be held July 16 in Tennessee bankruptcy court. Pending court approval, the deal is expected close July 24,...
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