Restoration's board of directors will entertain offers fromother parties until Dec. 13. If Catterdon's offer is uncontested,the parties expect the transaction to close during next year'sfirst quarter.
During its fiscal year's second quarter, which ended Aug. 4,Restoration reported a net loss of $5.5 million compared to a$1.2-million gain during the same year-ago period. Revenues duringthe quarter rose to $183.8 million, from $179.3 million, andexecutives predicted a 6% to 7% increase for the year.
In August, management announced that it was cutting 100positions at its headquarters. The move was to save the company $9million annually.
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