RoomStore to Issue Stock to Creditors

October 12, 2006  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on October 2006 Richmond, Va.-based retailer RoomStore announced its intention Thursday to issue stock to creditors as part of its reorganization plan, which was confirmed in May by the U.S. Bankruptcy Court.

The issue should take place by Nov. 10.

The company also plans to establish a secure Web site for providing certain financial information to shareholders.

Over the next 30 days, RoomStore will establish a process for verifying the identity of shareholders to receive stock and for granting access to the secure Web site.