Not any hard news to report, but negotiations are continuing. According to sources, the buyer (HHT, HNI) was adding insult to injury by demanding more concessions.....which may have been warranted (or not) depending the state of Harmans books and accounts. Anyhow, this almost ended the negotiations, but apparently they are now on again and things are looking better.
I know it's not much, but it is the best I can do. These meetings are definitely behind closed doors!
If the deal was to fall through, it would be tough to speculate the options for Harman. Could they pay off debt (eventually) and re-org? Could they file chapter 11? Could they somehow pick up some outside $$? Who knows, but I think it is of importance to the Pellet industry and to customers as to the current and final status of this relatively sad story.
I know it's not much, but it is the best I can do. These meetings are definitely behind closed doors!
If the deal was to fall through, it would be tough to speculate the options for Harman. Could they pay off debt (eventually) and re-org? Could they file chapter 11? Could they somehow pick up some outside $$? Who knows, but I think it is of importance to the Pellet industry and to customers as to the current and final status of this relatively sad story.
