SIRCO ANNOUNCES INTENTION TO REPURCHASE SHARES AND ARRANGEMENTS WITH ROSENTHAL & ROSENTHAL, INC.
SIRCO ANNOUNCES INTENTION TO REPURCHASE SHARES AND ARRANGEMENTS WITH ROSENTHAL & ROSENTHAL, INC. NEW YORK, Nov. 4 /PRNewswire/ -- SIRCO International Corp. (NASDAQ: SIRC) announced today that its board of directors had authorized the repurchase of up to 150,000 shares of Sirco common stock. Purchases will be made from time to time in the over-the-counter market at prevailing market prices and may be made in privately negotiated transactions. Sirco indicated that it viewed the shares to be an attractive investment in view of their current price level, and that some of the shares might be purchased by Sirco's Employee Retirement Plan. There are 1,215,200 shares of Sirco common stock currently outstanding. Sirco also announced that it had recently entered into a factoring arrangement with Rosenthal & Rosenthal, Inc., providing for the financing of Sirco's accounts receivable. Sirco sells, at wholesale, handbags, children's bags, tote bags, soft luggage and related products. -0- 11/4/92 /CONTACT: Takeshi Yamaguchi, chief financial officer of Sirco, 212-564-0114/ (SIRC) CO: Sirco International Corp.; Rosenthal & Rosenthal, Inc. ST: New York IN: HOU SU: TNM
GK-OS -- NY063 -- 2605 11/04/92 15:05 EST
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|Date:||Nov 4, 1992|
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