Crystal Brands announces agreement to sell its Monet, Trifari and Marvella jewelry businesses has been approved by bankruptcy court.NEW YORK--(BUSINESS WIRE)--Nov. 4, 1994--Crystal Brands Inc., which is operating under Chapter 11 of the Bankruptcy Code Bankruptcy Code may refer to:
Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. approval. The Jewelry Group is the leader in the design, manufacture and marketing of better costume jewelry costume jewelry n. Jewelry made from inexpensive metals and imitation or semiprecious stones. to department and speciality stores under the brand names of Monet, Trifari and Marvella. The closing of the sale is expected to take place by Nov. 30, 1994. The purchase price, which will be paid in cash at closing, will be equal to the net working capital of the Jewelry Group plus $16.5 million. Assuming a Nov. 30, 1994 closing, the purchase price proceeds, plus cash generated by the Jewelry Group during the month of November, are estimated to equal approximately $77.7 million. Crystal Brands produces sportswear for men and boys under the brand names Gant, Salty Dog and Izod; active sportswear for men and women under the Izod Club and U.S. Open The term U.S. Open is applied to "open" United States national championships in a particular sport, in which anybody, amateur or professional, American or non-American may compete. These include:
CONTACT: Crystal Brands Inc. Michael B. McLearn, 212/502-1301 |
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