Campeau Takes Bloomingdale’s Off Market: Canadian retail...
From Times Staff and Wire Reports
Campeau Takes Bloomingdale’s Off Market: Canadian retail company Campeau Corp. has abandoned its attempt to sell the New York department store chain Bloomingdale’s, the Financial Times reported. The decision was revealed over the weekend by financiers involved in efforts to restructure debt-laden Campeau, the newspaper reported. The reason for abandoning the sale was said to have been the inadequate level of offers received for the chain. Campeau originally predicted a selling price of $1.5 billion for Bloomingdale’s, which it bought two years ago. The store chain has been up for sale for more than three months.
