Advertisement

Herbert Haft, known for a series of...

Share

Herbert Haft, known for a series of failed but profitable takeover bids for retail companies, has indicated that he plans to acquire a large stake in troubled Zayre Corp., the company said. Zayre said Haft, chairman of Dart Group Corp., notified the Framingham, Mass.-based discount retailer that his Federal Partnership plans to buy at least $15 million in Zayre stock. Under federal antitrust law, purchasers must give notice of their intentions if they intend to acquire that much stock in a company. “This is an unsolicited, unilateral action on the part of Mr. Haft,” said Zayre Chairman Maurice Segall. Retail industry analysts were skeptical of Haft’s intentions, but did not rule out a legitimate bid for the company. Separately, Segall said his company’s second-quarter results, due out later this month, are expected to show a large operating loss.

Advertisement