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| Orchard Supply, Daly City continues |
"Home
improvement retailer Lowe's said it has completed its acquisition of 72
stores from Orchard Supply Hardware Stores for approximately $205
million.Orchard is a Sears spinoff that filed for bankruptcy in
June. That same month the San Jose-based, company received the offer
from Lowe's. The "stalking horse" bid also included the assumption of
debts owed to nearly all of Orchard's suppliers.
The deal allows
Lowe's to expand in California and reach into urban areas. Because
Orchard's has smaller stores, it can operate in areas of dense
population. Orchard will continue to run as a separate, stand-alone company. " Read More.
Note: photograph from Examiner.com.
Posted by Kathy Meeh
1 comment:
OSH had to file bankruptcy and Lowe's took the good stores. The one on Gellert probably will be closed.
OSH should have never went private after buying themself's from Sears.
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