The company has already closed 10 locations, including takingits presence out of Ohio.
Jacobson's has until the end of September to complete the sales,says the chain's attorney, Sheldon Toll of the Detroit-based firmHonigman, Miller, Schwartz and Cohn. He told GlobeSt.com that fivecompanies, together as a joint venture, were successful in biddingto handle the liquidation, including Gordon Bros. of Massachusettsand SB Capital of New York. The bid is worth $70 million, Tollreports.
"The remaining stores are open for the closing sales," Tollsays. "We're in the process of selecting bids for firms that wantto buy the real estate or lease the locations."
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