NEVADA BOB’S UNLOADS 59 OF 82 STORES.
The sales, approved by Canadian and U.S. bankruptcycourts, leave 23 corporate stores (18 in Canada and 5 in the U.S.) remaining.The divestiture of 23 Canadian corporate-owned stores is expected to bring in$1.1 million, plus 80 cents on the dollar for inventory. The value of the saleof the 36 stateside doors was not immediately available, although the Ozer Group— which was retained by Nevada Bob’s to serve as a restructuring consultant —says the deals should help Nevada Bob’s emerge from bankruptcy as a franchiser,and not a store operator. That’s something the company had been trying to dobefore seeking court protection.
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