» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
TDN Services
Research millions of people and properties [+]
Monitor any person, property or company [+]

Skip Navigation LinksHome >
VOL. 128 | NO. 133 | Wednesday, July 10, 2013

Nashville-Based Oreck Sold at Auction to Royal

AP

Print | Front Page | Email this story | Comments ()

NASHVILLE (AP) – The parent company of Hoover has purchased Nashville-based vacuum maker Oreck Corporation at a bankruptcy auction.

The Tennessean reports (http://tnne.ws/11y4ZvC) the family that founded Oreck had hoped to buy it back but lost the bid at a Monday auction to Royal Appliance Manufacturing Company.

According to a statement, Royal intends to close the transaction on July 24, subject to court approval.

Financial details of the winning bid were not released, but the Oreck family had submitted a $23 million bid at the beginning of the bankruptcy process.

The family's effort was led by former CEO Thomas Oreck. The family said they hoped to keep Oreck's manufacturing jobs in the United States.

Oreck has more than 200 employees at a manufacturing facility in Cookeville and several dozen corporate employees in Nashville.

Information from: The Tennessean, www.tennessean.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 275 21,235
MORTGAGES 72 278 24,410
FORECLOSURE NOTICES 0 35 3,136
BUILDING PERMITS 178 499 43,933
BANKRUPTCIES 54 146 13,614
BUSINESS LICENSES 21 65 6,777
UTILITY CONNECTIONS 0 32 7,931
MARRIAGE LICENSES 19 60 4,794