Andover Togs Inc. agrees to acquire certain assets of Dobie Industries Inc.NEW YORK--(BUSINESS WIRE)--Feb. 16, 1995-- Andover Togs Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ATOG ATOG Abnormal Transient Operational Guideline ATOG Allowable Take Off Gross (Weight) ) Thursday announced that it has agreed to acquire the inventory, tradenames, and customer orders of Dobie Industries Inc., a manufacturer of children's and women's apparel based in New York city New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Terms of the transaction were not disclosed. Dobie Industries, which had revenue of approximately $32 million for 1994, yesterday filed a petition in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York under Chapter 11 of the Federal Bankruptcy Code. As a result, the transaction is subject to the approval of the Bankruptcy Court. Andover Togs Chairman William L. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. said that the transaction is considered attractive by Andover because it is expected to broaden Andover's base of distribution. He said that the transaction is expected to close next week, subject to Bankruptcy Court approval. Andover Togs manufactures children's apparel. CONTACT: Andover Togs Inc., New York Alan Kanis, 212/244-0700 |
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