Hoover purchases Oreck out of bankruptcy

A bankruptcy judge approved the final agreement for The Royal Appliance Manufacturing Co.’s purchase of the assets of bankruptcy Oreck Corp. Oreck had tried to sell the company for months before filing the Chapter 11 bankruptcy case. Royal, a subsidiary of the China-based TTI Floor Care, will pay $17.25 million for the company in addition to assuming several of the company’s debts. It plans to retain the Oreck factory based in Cookeville, TN but will close the Nashville headquarters.

For more details read the entire story at, “Oreck sale to Hoover parent approved in bankruptcy court.”

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