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Big Lots Takes Out Liquidation World


Parsad
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I've followed Liquidation World for nearly as long as I've followed Fairfax.  Owned it briefly in 2002-2003 when I thought they may get their act together.  Nope!

 

This bungled mess of mis-management has finally been put out of its misery by Big Lots at 6 cents a share.  Cheers and good riddance!

 

http://www.theglobeandmail.com/globe-investor/big-lots-snaps-up-liquidation-world/article2036075/

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I've followed Liquidation World for nearly as long as I've followed Fairfax.  Owned it briefly in 2002-2003 when I thought they may get their act together.  Nope!

 

This bungled mess of mis-management has finally been put out of its misery by Big Lots at 6 cents a share.  Cheers and good riddance!

 

http://www.theglobeandmail.com/globe-investor/big-lots-snaps-up-liquidation-world/article2036075/

 

I just posted to the Investment Ideas thread about this:

 

Is this completely kosher?

 

Didn't Seth Marks used to run Big Lots? And then his own Talon Capital lent money to LQW, they did those highly dilutive financings which seemed to run the stock price up, then seemingly on cue, as soon as the lockup on those private placements expires: the price tanks. Now Marks' former company buys  his present one, and assumes the debt owed to his financial company?

 

Am I the only one who finds this disingenuous?

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