Vann's

The FBI and the U.S. Department of Labor are investigating the bankruptcy of a Montana appliance and electronics store that rendered its Employee Stock Ownership Plan worthless.

As many as 200 former employees of Vann's will split $7.3 million under a settlement agreement in a lawsuit against former corporate officers.

MISSOULA, Mont. (AP) — The chief executive officer of Vann's Acquisition LLC has left the company less than three months after announcing the closure of all three Vann's locations in western Montana.

Vann's, Incorporated is closing their stores in Missoula and Hamilton and will be moving their headquarters to Bozeman.

Vann's sale officially finalized in bankruptcy court.

Vann's, Incorporated has confirmed the sale of the company to McMagic Partners LP of Texas.

McMagic Partners LP, a Texas-based company, has entered into a contract to purchase Vanns, Incorporated in Montana.

Missoula attorney Dick Samson is working with the bankruptcy court as a panel trustee, as two different firms are involved in negotiations on whether to purchase Vann's Incorporated.

A bankruptcy judge in Missoula on Tuesday morning gave Vann's, Incorporated one month to complete the sale of the 5 retail stores throughout the state to a Bozeman businessman. The business was already under Chapter 11 protection, and had announced that the stores were closing when the news came over the weekend of a potential buyer...

Vann's to close its doors.