GROS- Grossman's: A $.70 value play Message Board

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Microcap & Penny Stocks : GROS- Grossman's: A $.70 value play

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To: Butch4327 who wrote (162)	8/6/1997 4:24:00 PM
From: RACm	of 174

Grossman1s losses continue in June Canton, Mass. - Aug. 6, 1997 - Grossman1s Inc. suffered a net loss of $1.6 million on sales of $23.9 million in June, show papers filed with U.S. Bankruptcy Court. The performance is an improvement over Grossman1s results in May, when the retailer lost $2.6 million on sales of $17.3 million. Grossman1s also received a 120-day extension of its exclusive periods to file a reorganization plan and solicit acceptances from creditors. The new dates are Dec. 3, 1997 and Feb. 2, 1998, respectively. The court also extended its deadline to decide on an exclusive supply agreement that Grossman1s has proposed with Jeld-Wen Inc., a millwork supplier and an affiliate of GDI Co., the retailer1s main lender

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