Spiegel gets OK to sell Newport
May 21, 2004,
DOWNERS GROVE, Ill. — Embattled catalog retailer Spiegel Inc., working its way through a painful bankruptcy and a gradual dismembering of its retail operations, has received a green light from a U.S. Bankruptcy Court judge to sell its Newport News women's fashion unit.
Spiegel said it's selling the Newport News unit to Pangea Holdings Ltd., an investment company, for $28.6 million.
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