Duarte Firm Bids for Jewelry Chain: Barry’s...
<i> From Times staff and wire reports </i>
Duarte Firm Bids for Jewelry Chain: Barry’s Jewelers Inc. of Duarte said it will make a bid for the 80-store Merksamer Jewelers chain, which has received a $55-million management buyout offer. Barry’s, a 231-store chain, said its bid is “substantially in excess” of the management offer for Sacramento-based Merksamer, a unit of troubled L. J. Hooker Corp., but did not disclose the actual price. Both L. J. Hooker and the Merksamer subsidiary are in Chapter 11 bankruptcy proceedings. Barry’s offer will be submitted next week for bankruptcy court approval.
