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Thread: Tombstones & Epitaphs III

  1. #331
    Administrator Clamato's Avatar
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    Quote Originally Posted by GE Fan View Post
    Well, if Rally Capital is in fact involved, it's certainly not good.
    Rally Capital was founded and owned by a Howard Samuels. May be a family member of Doug's. I wouldn't ring the death knell just yet.

  2. #332
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    Quote Originally Posted by Cliché View Post
    Surprised you don't know this.

    It's the largest amateur barbecue contest in Illinois, with 60 teams competing for Best Ribs, Best Chicken, Best Dish and Best Sauce. Fest-goers are encouraged to vote for a favorite sauce and get tips from the home chefs.

    For information, visit glenellynbackyardbbq.org or email info@glenellynbackyardbbq.org. The Backyard BBQ benefits Bridge Communities, a nonprofit organization that provides housing, mentoring and supportive services to homeless families in DuPage County.
    I see what you did there.

  3. #333
    Forum Regular - Vociferous Class GESince1958's Avatar
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    Should this Young's subject be a separate thread in the Shopping forum? In any case, I ventured over there today. Their lot was full as if they were having a meeting. Still says "closed until further notice." Preparing for a final sale?

    Last edited by GESince1958; 09-07-2017 at 11:00 PM.

  4. #334
    Forum Regular - Vociferous Class Lupechennel's Avatar
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    I'm on their email list. I didn't get an email. Maybe the webmaster needs to update and restore the webpage back to it's original state?

  5. #335
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    Heard some folks discussing receiving a letter based on their purchase of an extended warranty. Hope this works out, bought a couple rounds of appliances there.

  6. #336
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    Quote Originally Posted by NEBF View Post
    Heard some folks discussing receiving a letter based on their purchase of an extended warranty. Hope this works out, bought a couple rounds of appliances there.
    I got some major appliances there too about 10 years ago and was very happy with sales and service at the time. Hope things work out for them as well.

  7. #337
    Forum Regular - Vociferous Class GESince1958's Avatar
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    We bought all our appliances from Young's - most of them 25 years ago or more.

    Several years back, a couple of burners on our stove began to malfunction. We called and they were about to send someone out. As in FREE. 20+ years after the purchase. On a completely low end gas oven. We were stunned. They told us what to do over the phone and we were back up and running again. Perhaps they did this too many times and forgot how to make money from service? Dunno. When the smoke clears, I want to know how to contact their service guy who came out and fixed our 27 year old Maytag washer this last spring.

  8. #338
    Forum Hall of Famer Cliché's Avatar
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    RALLY CAPITAL SERVICES ANNOUNCES RETURN OF BIDS SALE OF YOUNG’S APPLIANCES, INC., OF GLEN ELLYN, IL

    https://www.dailydac.com/commercialb...-appliances-il

    1. Summary:
    On Friday, September 15, 2017 Howard B. Samuels, not individually, but solely as Assignee for the Benefit of Creditors (the “Assignee” or the “Seller”) of Young’s Appliances, Inc. (“Young’s” or the “Business”), intends to sell his right, title and interest in and to substantially all tangible and intangible assets (the “Assets”).


    2. Background:
    On September 6, 2017, Howard B. Samuels, not individually but solely as Assignee for the Benefit of Creditors of the Debtor, received and accepted an Asset Purchase Agreement (“APA”) for the Assignee’s right, title and interest in and to certain Assets of the Company’s tangible and intangible operating assets and rights of any and every kind, used or usable in the Company’s business, subject to all liens, claims and encumbrances of record, as a single lot as provided and further detailed in the APA, for a purchase price of $1,475,000 less amounts to be paid to mortgagee on the real estate, other payments to secured creditors, and a credit to fulfill certain orders with customers who made cash deposits prior to August 28, 2017. The APA also details excluded assets and other terms and conditions. Upon request, the Assignee will furnish to a qualified purchaser, after execution of a confidentiality agreement, a complete list of the Assets and a copy of the fully executed APA.


    3. Assets to be Sold:
    The Assets being sold include but are not limited to certain furniture, fixtures, appliances, equipment, supplies, inventories (“Inventory”), shelving, computers, computer software (subject to license agreements for such software), books, records and manuals related to the Assets, mailing lists, customer lists, fixed assets, and all files, records, and all data relating to the Business in whatever form located at the property and utilized in connection with the operation of the Business; all vehicles used in the operation of the Business; intangibles related to the Business which may be owned by Business or in which Business may have an interest, including, without limitation, all trademarks, symbols, logos, registered marks, trade names, patents (current and expired), patent rights, copyrights, service marks, service names, recipes, brand names, domain names (whether registered or not), artwork, websites, URLs, royalties, slogans, designs, technical know-how, sales techniques, methods, procedures, and all applications and renewal rights for, and all other rights associated with, all the foregoing; any accounts receivable of Business outstanding as of the Closing Date (the “Accounts Receivable”); to the extent assignable, unless rejected by Purchaser at the Closing, all of the Seller’s rights, interests, claims, actual and potential causes of action under those contracts material to the operation of the Business (the “Assumed Contracts”); all warranties on the Assets being purchased hereunder to the extent assignable; to the extent transferrable, the telephone and fax number(s) of the Business, any and all email and website addresses for the Business; real estate commonly known as 500 Crescent Blvd. and 501-503 Pennsylvania, Glen Ellyn, IL 60137, together with all buildings, improvements, and fixtures (the “Real Estate”). The Real Estate shall be sold at Closing pursuant to the terms and conditions of that real estate contract (the “Real Estate Contract”). The Real Estate Sale Contract shall provide that, at Closing, the Purchaser shall be credited with customary closing costs including without limitation, title charges, applicable transfer taxes and real estate tax prorations (“Real Estate Transaction Credits”).

  9. #339
    Forum Regular - Vociferous Class GESince1958's Avatar
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    In layman's terms, this means what, exactly? That they're completely broke and need to sell everything pronto so that their lien holders and creditors are paid as much as possible before something even worse happens?

    Also, there's a mortgage? After all these decades?

  10. #340
    Administrator Clamato's Avatar
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    I forgot how much money we gave him to renovate that sign. Wonder what will become of it?

  11. #341
    Forum Regular - Vociferous Class GESince1958's Avatar
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    Quote Originally Posted by Clamato View Post
    I forgot how much money we gave him to renovate that sign. Wonder what will become of it?
    Shouldn't it go to the Glen Ellyn History center at 4.5 corners?

  12. #342
    In a Facebook post, Young's Appliances President Doug Samuels said that Young's expects to reopen in two to three weeks under new ownership.

  13. #343
    Forum Hall of Famer Cliché's Avatar
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    Former Black Hawks (not Blackhawks) captain Pierre Pilote dies at 85
    Hall of Fame defenseman, 3 Norris Trophies, Stanley Cup in 1961, his retired No. 3 sweater hangs in the rafters, (shared with Keith Magnuson)

    Met him two years ago, RIP.

    https://www.nhl.com/news/hockey-hall...85/c-290979862

  14. #344
    Forum Hall of Famer Cliché's Avatar
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    Never forget...


  15. #345
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    Quote Originally Posted by GESince1958 View Post
    In layman's terms, this means what, exactly? That they're completely broke and need to sell everything pronto so that their lien holders and creditors are paid as much as possible before something even worse happens?

    Also, there's a mortgage? After all these decades?
    agreed, need some help translating. Sounds like they didn't make payements (kinda like a foreclosure) and the bank put the assets up for auction and this guy Samuels purchased them??


    Or, a family member wants to cash out and rather than do a smooth transition, did a hard one??

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