Friedman’s Gets Auction Approval

Friedman's Jewelers, currently in Chapter 11, has won bankruptcy court approval to sell off its assets, according to wire reports. At press time, an auction was scheduled for March 6. In early March, Friedman's had not yet named a leading bidder, the Associated Press said, though if it does, the first competing bid must exceed the leading bidder's offer by $500,000. The bankruptcy court judge then must give final approval. Friedman's and subsidiary Crescent Jewelers together operate 473 jewelry stores in 20-plus states.
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