Harry & David Holdings may have jettisoned its pension plan during its Chapter 11 reorganization travails two years ago, but there remains a cost to the successor organization.
The Medford-based gift and gourmet food company, which has fared well since emerging from bankruptcy in September 2011, earning $41.7 million in its most recent quarter.
Nonetheless, Harry & David remained on the hook for $8.7 million in pension-related termination premiums to the Pension Benefit Guaranty Corporation.
The company is paying PBGC in quarterly payments due to end Aug. 14, 2014.
The agency also had an unsecured $30 million claim, of which it is entitled to receive 10 percent under the Delaware Bankruptcy Court agreement.
Now that its flush with cash from a public offering Boise Cascade Holdings can clip a few more threads that tethered it to former owner OfficeMax Inc.
Boise Cascade will payout $129 million to cover OfficeMax’s 2004 investment .
OfficeMax said it will continue to hold a 20.4 percent of Boise Cascade’s Series B shares, representing an indirect ownership interest of about 14 percent.
Boise Cascade shares opened last week at $25.44 on the New York Stock Exchange, or 21 percent above their $21 IPO price. At 11.8 million shares, the deal was valued at $247 million.
Northwest clean technology start-ups attracted $4.7 million from angel investors in 2012. Sustainable Business Oregon editor Christina Williams takes a look at the companies.
Seattle business journalist Stephen Dunphy is always a master of capturing the little things that add up.
And just when it appeared we might get a relief in gas prices, a month or so ago, we woke up this morning staring at the highest unleaded regular gas prices ever for Feb. 12 in the state of Oregon.
AAA reports a combination of higher crude prices, refinery shut downs and speculation have sent gas prices soaring earlier than usual this winter, but the rate of increase has slowed down a bit this week.