MISSOULA — A Texas company has made a $4.5 million offer to buy Vann’s Inc., the bankrupt electronics and appliance chain.
KECI-TV reports the bankruptcy trustee for Vann’s made a filing in Bankruptcy Court on Monday saying the company has a purchase offer from McMagic Partners, a Texas company headed by Ross Khaledi.
The trustee is asking the bankruptcy court to approve the agreement with Khaledi’s company. Proceeds from the sale would be paid to secured creditors.
The trustee says the sale would be in the best interest of creditors while offering the best chance for maintaining operations and preserving jobs.
Vann’s is based in Missoula and has stores in Kalispell, Hamilton, Bozeman and Billings and a warehouse in Lolo. The company filed for bankruptcy protection in August.