Another of Ilia's <of PRFM> financial "successes! Bankruptcy Court!
Link: bankrupt.com
Moby.
TEXT:
L. Luria & Son, Inc. Seeks Bids for Inventory at Six Remaining Stores
MIAMI, FL - Sept. 3, 1997 - L. Luria & Son, Inc. (NYSE: LUR) announced today that Ilia Lekach, Chairman of the Board of Luria's and an investor group, are submitting an offer to the Creditors' Committee for the resolution of all general unsecured claims against L. Luria & Son., Inc.
Mr. Lekach intends to continue the operations of the Company and its six remaining stores if his offer meets with the Creditors' Committee approval and support.
According to Paul Singerman, bankruptcy counsel to Luria, the Creditors' Committee advised last week their unanimous resolution requesting the liquidation of the Company's six remaining stores. Following a solicitation for bids from retail liquidating firms, the Company expects all bids to be received by Monday, September 8, 1997.
Presently, the Debtor and the Committee are working cooperatively together in order to maximize the value of the estate for creditors.
SOURCE L. Luria & Son, Inc. /CONTACT: Paul S. Singerman, Esq. of Berger, Davis & Singerman, 305-755-9500, for L. Luria & Son, Inc./
|
