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The parent company of Tuneup Masters Inc.,...

The parent company of Tuneup Masters Inc., Buena Park’s Cardis Corp., said that Bessemer Securities Corp. had withdrawn its offer to buy the car-tuneup chain. In a terse statement, Cardis didn’t say why the deal had fallen through, and executives could not be reached Tuesday. The auto parts chain has been under the protection of a federal bankruptcy court since May. The subsidiary, Newbury Park-based Tuneup Masters, is not in bankruptcy and is Cardis’ only profitable subsidiary. The $60-million sale to Bessemer had been set for a hearing in U.S. Bankruptcy Court in Los Angeles today. Cardis said its investment banker, New York’s Bear, Stearns & Co., is looking for another buyer.


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