Allied Stores Corp.
| Company Deal | Allied Stores Corporation: 4 1/2% debentures due 1951 |
|---|---|
| Transaction Type | debentures |
| Deal Description | Allied Stores Corporation expected to apply a portion of the proceeds to the pre-payment of the corporation's notes, which were issued in order to obtain funds largely used for the acquisition of all the capital stock of the Polsky Realty Company. The balance of the proceeds was to be retained for general corporate purposes and to enable the corporation to increase its investments in existing subsidiaries and take advantage of any opportunities to acquire additional subsidiaries operating retail department stores or to acquire and equip properties suitable for use as retail department stores. Mention was made of the fact that the corporation was engaged in negotiations toward the formation of a new subsidiary that would lease retail department store premises on Euclid Avenue in Cleveland, Ohio. |