Announced
Financials
Sources
Tags
Acquisition
Majority
Pending
Friendly
Single Bidder
Diversified Retailers
Private Equity
Domestic
Private
Restructuring
United States
department store
Synopsis
Shoppers World, a regional department store, agreed to acquire Forman Mills, a retail chain company. Financial terms were not disclosed. The deal likely rescues Forman Mills from bankruptcy. The retailer recently laid off hundreds of employees and told the Pennsylvania Department of Labor & Industry it would have to file Chapter 11 if it couldn’t find a buyer.
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