The bankruptcy court is set to hold a hearing today on a new set of proposals from Family Christian Stores to put a revised buyout offer from FCS Acquisition to a vote among the creditors. Their previous bid of $43 million has been increased to a range of between $52.4 million and $55.7 million, according to Family Christian’s lawyers. Sources told Michigan Live that the liquidation companies that participated in the auction — since voided by the court — are no longer participating (and who could blame them, since Family Christian has been working hard since the outset to ensure the […]
