ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Saturday, May 4, 1996 TAG: 9605060103
SECTION: BUSINESS PAGE: A-6 EDITION: METRO
SOURCE: MAG POFF
Holdren's Inc. confirmed Friday it is negotiating a deal that could lead to the sale of the Roanoke-based consumer electronics and appliance company.
Stan Cross, the retail chain's president, said the negotiations are taking place, but he declined to identify the potential buyer.
"It's very tentative," Cross said of the potential sale. "It could break down." If the negotiations are successful, he said, the company could have an announcement in about 10 days.
He said the potential buyer is an investor who is interested in continuing operations of the company. Customers would see little or no difference, Cross said, because the Holdren's name also would be retained.
If the sale goes through, he said, all existing stores would remain open, and the present management and employees would be retained.
The only difference, he said, is that the company would have "much more operating capital to do business."
Holdren's operates five stores at Valley View Mall and in Vinton, the New River Valley, Martinsville and Lynchburg.
The company recently has closed stores at Hunting Hills Plaza in Roanoke and in Charlottesville.
LENGTH: Short : 31 linesby CNB