January 23, 2018 / 2:35 PM / 8 months ago

BRIEF-Stanley Furniture Sees Q4 2017 Sales About $11.9 Million

Jan 23 (Reuters) - Stanley Furniture Company Inc:

* STANLEY FURNITURE ANNOUNCES PRELIMINARY FOURTH QUARTER SALES AND NET LOSS; AMENDMENT TO AGREEMENT TO SELL SUBSTANTIALLY ALL OF ITS ASSETS

* SEES Q4 2017 SALES ABOUT $11.9 MILLION

* STANLEY FURNITURE COMPANY - ENTERED INTO AMENDMENT TO AGREEMENT TO SELL SUBSTANTIALLY ASSETS TO CHURCHILL DOWNS PROVIDING FOR REVISED PURCHASE PRICE

* ‍ AMENDED AGREEMENT CONTINUES TO PROVIDE FOR CHURCHILL DOWNS TO ASSUME SUBSTANTIALLY ALL THE COMPANY'S LIABILITIES​

* STANLEY FURNITURE COMPANY - AMENDMENT PROVIDES CO WITH A GO-SHOP PERIOD DURING WHICH IT WILL ACTIVELY SOLICIT ALTERNATIVE PROPOSALS FROM THIRD PARTIES

* STANLEY FURNITURE COMPANY - AMENDMENT PROVIDES CO WITH A GO-SHOP PERIOD FOR NEXT 14 DAYS CONCLUDING ON FEBRUARY 5, 2018

* SEES Q4 2017 NET LOSS OF APPROXIMATELY $6.7 MILLION

* STANLEY- AGREEMENT WITH CHURCHILL PROVIDES FOR PURCHASE PRICE TOTALING $18.4 MILLION & 5% EQUITY INTEREST IN BUYER'S POST-CLOSING ULTIMATE PARENT COMPANY Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below