The 8k tells me the lenders can buy the company for whatever they want, since they have the right to refuse to accept any bid but their own. In my opinion the company stores were closed out of spite by current management, who, imo, will be out after the asset sale.
If you already owned 1/2 of the outstanding stock, and the company owed you a serious amount of money, what would you do? Why throw it away when you could continue to operate a business that seems to have some potential?
There are a lot of possibilities here, but the above makes the most sense to me.
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