Veta Grande will sell a unit to Schottenstein.

Northridge-based Veta Grande Cos. said it has reached a tentative agreement to sell its 100% interest in Shifrin-Willens, a jewelry store chain, to Columbus, Ohio-based Schottenstein Stores. Shifrin-Willens, which operates 36 stores in the Midwest, has been operating under the protection of Chapter 11 since last June. Veta, a precious metals manufacturer, will withdraw its previous reorganization plan to allow Schottenstein to submit its own plan.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
66°