HCKI News, withdraws chapt 7. Still under radar.
United States Trustee Withdraws Motion to Convert Case to Chapter 7 at March 23rd Hearing of Hackett's Stores, Inc. Subsidiary,
Date : 03/24/2010 @ 8:45AM
Source : GlobeNewswire Inc.
Stock : Hackett's Stores, Inc. (HCKI)
Quote : 0.0017 0.0 (0.00%) @ 12:45PM
United States Trustee Withdraws Motion to Convert Case to Chapter 7 at March 23rd Hearing of Hackett's Stores, Inc. Subsidiary,
SACKETS HARBOR, N.Y., March 24, 2010
GLOBE NEWSWIRE
Hackett's Stores, Inc. (Pink Sheets:HCKI), a holding of Seaway Valley Capital Corporation (Pink Sheets:SEVA), is pleased to announce that yesterday the motion to convert the case of Hackett's wholly owned subsidiary, Patrick Hackett Hardware Company, to a Chapter 7 was withdrawn by the United States Trustee's office.
David Antonucci, counsel for Patrick Hackett Hardware Company in the case, stated, "As previously discussed this is what we did anticipate, but now it is official. And we would like to again thank the United States Trustee's office for withdrawing this motion."
Company President and CEO, Herbert Becker added, "As previously stated we expected that the conversion motion would be withdrawn, and now that has happened. At this point we are in the final stages of preparing our Chapter 11 emergence plan, and we expect to present it to the creditors and the court so Patrick Hackett can ultimately emerge from Chapter 11."
Hackett's Stores, Inc. is the parent company of Patrick Hackett Hardware Company, WiseBuys Stores, Inc. and HIIO, Inc. Patrick Hackett Hardware Company has a wide variety of merchandise and business lines, including a full service paint, consumer electronics, equipment rental, brand name clothing, footwear, sporting goods and gourmet foods. HIIO, Inc. represents a concept platform for a new specialty retailer focused on fashion clothing and outerwear, footwear and selected gift items. There are currently no HIIO or WiseBuys-branded stores open.
Safe Harbor Statement
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
CONTACT: Hackett's Stores, Inc.
H. Becker
315-393-6101
hbecker@hackettsonline.com
AI
