NetLibrary sale plans move forward

Submitted by Blake on Tue, 12/04/2001 - 11:44

A judge approved a loan to netLibrary going and granted its sales procedure, which in effect allows the sale to go forward, and opens the door to competitive bids, if any.

The remaining workers worked for the equivalent of unemployment benefits — $9 an hour — in the weeks following netLibrary\'s decision to put itself on the block. They are back to normal pay now, the company states, but are owed about $500,000 in back pay.

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