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CEO: Bankrupt Vann’s Has Potential Buyer
Bozeman businessman is considering buying bankrupt company
The CEO of the bankrupt electronics and appliance store Vann's Inc., says a Bozeman businessman is considering buying the company.
Jerry McConnell tells KGVO-AM the potential buyer is interested in all five of the Vann's stores in Montana.
Less than two weeks ago, Vann's asked the U.S. Bankruptcy Court to convert its bankruptcy to a liquidation because it had not been able to secure the $3 million to $5 million investment needed. The closure would mean the loss of about 150 jobs.
McConnell says he plans to ask if the bankruptcy court on Tuesday if the company can have another week to firm up the sale. He did not identify the potential buyer or announce any terms of the possible sale.
Vann's is owned by its employees, who learned of the possible sale Monday morning.
Jerry McConnell tells KGVO-AM the potential buyer is interested in all five of the Vann's stores in Montana.
McConnell says he plans to ask if the bankruptcy court on Tuesday if the company can have another week to firm up the sale. He did not identify the potential buyer or announce any terms of the possible sale.
Vann's is owned by its employees, who learned of the possible sale Monday morning.
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