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Originally Posted by fjtorres
Did the report say why the deal fell through?
Did the court reject the bid or did creditors torpedo it?
It'll be interesting to see who gets the name if they go to liquidation.
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Najafi, under his bid, has the option to run the business as a going concern but the right to eventually liquidate. He was looking for 30 day terms on inventory from major publishers -- standard terms. Two publishers said no; he walked. The other rumoured bidders -- Gore Brothers and Hilco -- appear to have gotten cold feet before making a formal bid.