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A judge blocked Bilzerian's offer for Pay 'N Pak.

July 10, 1987

At a hearing today, a federal judge will decide whether to continue blocking Paul Bilzerian from acquiring a controlling stake in Kent, Wash.-based Pay 'N Pak Stores Inc. The judge had issued a temporary restraining order Wednesday against the Tampa, Fla.-based investor, who attempted to add a 41% stake in the specialty retail chain to his current holdings of about 10%. The company rejected several offers from Bilzerian before agreeing last month to a $21.25-a-share buyout by an investor group that includes David Heerensperger, its chairman and chief executive.

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