They are going through a debt restructure (which has been in the news) and their main owner, Carlysle Group, may be looking for someone to take OTC off their hands. No word on who that might be.
Parks & Recreation
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Joined: Thu Sep 14, 2006 9:10 pm
Parks & Recreation
Since Watanabe is off the hook for his gambling debts, he is probably one of the few locals that could afford to buy the place.
City Council
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Joined: Sat Apr 10, 2010 11:52 am
Location: Chicago
City Council
Oriental Trading files for bankruptcy
http://www.omaha.com/article/20100825/N ... bankruptcy
http://www.omaha.com/article/20100825/N ... bankruptcy
www.omaha.com wrote:OMAHA, Neb. (AP) — Party supplies retailer Oriental Trading Company Inc. said Wednesday it has filed for Chapter 11 bankruptcy protection and will continue operating as it reorganizes under a plan approved by most of its major lenders.
The Omaha, Neb.-based company filed for reorganization in Delaware bankruptcy court. Its reorganization plan calls for slashing its debt by more than 70 percent to $200 million, improving its capital structure and boosting operating flexibility.
County Board
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Joined: Wed May 07, 2008 5:15 pm
County Board
"Its reorganization plan calls for slashing its debt by more than 70 percent" - by stiffing their vendors, contractors, and financiers who count on their checks in their "accounts payable" departments.
City Council
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Joined: Wed Aug 04, 2004 11:07 pm
Location: Gretna NE
City Council
Maybe they should take what is left and go to Vegas and try and win big!!
For the record NEBUGEATER does not equal BUGEATER !!!!!!!
County Board
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Joined: Wed May 07, 2008 5:15 pm
County Board
I vote for a bailout since fed has unlimited resources - well, until we run out of trees and printer ink.nebugeater wrote:Maybe they should take what is left and go to Vegas and try and win big!!
City Council
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Yahoo Messenger: jestcoyote
Location: Aksarben Village
City Council
Berkshire Hathaway buying Omaha's Oriental Trading
Steve Jordon WORLD-HERALD STAFF WRITER wrote:Oriental Trading Co. would become part of Berkshire Hathaway Inc. of Omaha by the end of November under a cash purchase agreement being announced today, ending a dozen years of shifting ownership by out-of-town investors.
Parks & Recreation
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Joined: Mon Jun 06, 2011 5:45 pm
Location: Omaha Metro Area
Parks & Recreation
Berkshire is doing well with the small company purchases that have basically structural profit. They bought the OWH a year before the OWH finished their loan repayment for their printing press, and now they have a $20 million dollar a year after tax loan check they don't have to write. Now the Oriental Trading company with the low cost merch, low cost employees (and limited Obamacare exposure as most of their staff is part time), and no more debt.
Money pumping in from the retail arm into their Insurance arm. Going to make them a lot of money in insurance. Their SuperCat competitors have to buy money or build up investments that have to be fungible in a distressed market. Berkshire, not so much.
Going to be lower premiums and mo business. Mo money!
Money pumping in from the retail arm into their Insurance arm. Going to make them a lot of money in insurance. Their SuperCat competitors have to buy money or build up investments that have to be fungible in a distressed market. Berkshire, not so much.
Going to be lower premiums and mo business. Mo money!
City Council
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Location: Aksarben Village
City Council
OTC's Ralston location is getting a $1.2M renovation.
Planning Board
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Joined: Tue Feb 19, 2019 8:51 pm
Planning Board
OTC has done some acquisitions over the last 10 years:
Mindware in 2013
Smilemakers in 2014
Peaceable Kingdom in 2017
Morris Costumes in 2021
Mindware in 2013
Smilemakers in 2014
Peaceable Kingdom in 2017
Morris Costumes in 2021
Planning Board
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Joined: Tue Feb 19, 2019 8:51 pm
Planning Board
OTC sold off most of its real estate at 108th & I. The eastern section was sold to Goodwill Industries and the western section remains OTC.
Home Owners Association
Posts: 191
Joined: Wed Apr 13, 2016 10:13 pm
Home Owners Association
Again, as I have said on this board numerous times, the OIF "industrial" properties are going by the way of churches, not profits, car dealership, storage yard or anything other than something that creates value through manufacturing industry, and thus, a misuse of the land.
The lot has been used in recent years as overflow parking for car dealers, trucks and Old Dominion.