The group of 65 running specialty stores will be sold to affiliates of CriticalPoint Capital, an L.A.-based boutique investment bank. The actual buyers weren’t identified. Little Foot expects to take a pre-tax charge of $33-36 million in the fourth quarter as a result of the sale, of which $11-12 million will be cash costs.  That will be partially offset by a cash benefit of $29-31 million in cash tax benefits, which includes both the fourth quarter charges and an early charge in Q3 of $44 million.

The new owners have committed to keeping open the Denver offices of JackRabbit. The statement ... Log in to view full article.