Word: campeau
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...pitfalls of overreaching were on full view last month when the U.S. retailing empire that Toronto developer Robert Campeau assembled in the '80s was placed under the protection of federal bankruptcy court. A hard-driving raider, Campeau had used junk bonds to help finance the $10.2 billion he paid for Allied Stores and Federated Department Stores, whose ten chains include Bloomingdale's, Stern's and Jordan Marsh...
There was bewhiskered Ivan Boesky staring out from behind bars: Santa Claus as perp. There were the elaborate designs of Michael Milken and Robert Campeau, rasping apart like Velcro...
...doors opened at Bloomingdale's and other U.S. subsidiaries of Campeau Corp. last week, but it was hardly business as usual. After months of financial turmoil, the Toronto-based company placed its 257 American stores under bankruptcy court protection. The 6,000-page petition listed $7.5 billion of debt. Campeau renamed the U.S. operations Federated Stores Inc.; former Federal Reserve Board Chairman G. William Miller was named chairman of the unit...
...moves were the latest in a takeover saga that began when Canadian developer Robert Campeau acquired Allied Stores and Federated Department Stores for $10.2 billion in the 1980s. The bankruptcy filing will hold off major creditors while allowing the stores to remain open and pay suppliers promptly. But before it can emerge from bankruptcy, the American operation must work out a creditor-repayment plan that is likely to require the sale of at least some of the company's nine retailing chains...
Canadian developer Robert Campeau became the most powerful retailer in the U.S. when he acquired Allied Stores and Federated Department Stores in the 1980s takeover wars. But his domain totters on bankruptcy, and Campeau has been relieved of command. -- Art Buchwald wins a court claim that he provided the idea for the blockbuster Coming to America, but how much will he be paid? -- After an oil spill in New York and New Jersey, Exxon faces more flak...