Daily News: July 16, 2013

USA Today: Oreck’s New Owner to Give Up Company-Owned Stores

USA Today reported that Oreck’s future owner plans to keep the vacuum-cleaner manufacturer’s Cookeville, TN, factory open but give up 100 factory-owned outlet stores and close the company headquarters there, citing to court records.

The article noted that Royal Appliance Manufacturing submitted the winning bid of $17.25 million cash for Oreck, beating the only other bidder, the founding Oreck family.

To read the entire USA Today story, click here.

Previously on abfjournal: WSJ: Hoover Brand Owner Wins Oreck Bankruptcy Auction, July 10, 2013