Hines Nurseries making a comeback?

According to NCTimes.com, "A bid submitted by Black Diamond Capital Management LLC of Greenwich, Conn., was the only qualified bid submitted to a federal bankruptcy court in Delaware, according to legal documents filed Monday. Both Bank of America and Black Diamond hold substantially all of Hines' debt." Here is where it get's interesting, Black-Diamond want's, "assurances from Home Depot and Walmart to continue buying plants from Hines." In my last post we found out, according to commenter Cd that Black Diamond, "sucked the place dry before the auction by laying off salesmen, not canning new material, etc. They made a killing off that and now they got the company back for pennies on the dollars. $31 million is not pennies but if I remember correctly at the time of filing there were about $130 million and assets and $50 million in liabilities. They essentially bought an 80 million dollar company for 30." Now we hear Black Diamond want's assurances that HomeĀ DepotĀ and Wal-Mart will continue to buy Hines plant's.

Interesting.