Investors Sue Comerica Over Norwalk Deal

October 7, 2008  by in UnCategorized   

By Home Furnishings Business in on October 2008 NFC Acquisition, an entity formed by two private investors that failed in an attempt to acquire Norwalk Furniture, has sued Comerica bank for complicating the negotiations, according to a report Wednesday in The Sandusky (Ohio) Register.

IRG Capital Group and Blackbird Capital Partners withdrew their attempt to buy Norwalk after they said Comerica pulled Norwalk’s funding, forcing the company’s plant to shut down. NFC filed a lawsuit Friday in Huron County Common Pleas Court claiming that Comerica committed fraud, misconduct and tortuous interference with a contract.

NFC Acquisition seeks a full refund of its $1 million investment in its effort to acquire Norwalk, as well as legal fees and punitive damages.