The economic upheaval created by the COVID-19 crisis will put one of Capitol Hill’s signature companies back in the hands of the group of friends who created it on E Pine nearly 30 years ago.
According to federal court filings in a $3.5 million deal that closed Friday, Rudy’s Reloaded, a company involving founders Wade Weigel and David Petersen has successfully won a bid to purchase the Rudy’s Barbershop chain out of bankruptcy.
“After several rounds of bidding between the Stalking Horse and Rudy’s Reloaded during the Auction, the Debtors determined, in consultation with counsel to the Committee, that: (i) Rudy’s Reloaded was the Successful Bidder and its final bid was the Successful Bid; and (ii) that the Stalking Horse was the Back-Up Bidder and its final bid was the Back-Up Bid under the Bidding Procedures Order,” an analysis used in determining the winning bid reads. Continue reading