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Retailing

June 03, 1993|From Times Staff and Wire Reports

Circle K Gets Preliminary OK on Reorganization Plan: A bankruptcy judge has given preliminary approval to Circle K Corp.'s reorganization plan, which calls for selling the nation's second-biggest convenience store chain. Under the plan, Circle K would be bought for $399.5 million by CK Acquisitions, an investment group whose holdings include Saks Fifth Avenue. Judge George B. Nielsen Jr. is expected to issue a final order in the middle of the month, which could allow the sale to close by June 30.

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