ABC Carpet & Home’s Potential Buyer Has Ties to Founder Cole

ABC Carpet & Home owner and board member Paulette Cole is a part-owner of the company’s stalking-horse bidder, 888 Capital Partners, according to court documents.

• 888 Capital Partners is controlled by Regal Investments LLC, according to a document noting Paulette Cole also holds a minority equity interest
• 888 Capital has agreed to forgive about $15 million worth of debt for ownership of the retailer; better offers from alternative buyers could still come in
• “I don’t want anyone to think this is some insider play,” lawyer Michael Sirota said on behalf of Cole in a hearing last week
  • Cole is looking ...