Court clears sale of 50 Below assets

A U.S. Bankruptcy judge approves two companies to buy assets of 50 Below, a technology firm with more than 200 employees based in Duluth, the News Tribune reports. ARI, a Milwaukee-based software company, is buying 50 Below's retail division for $5 million. San Diego-based Emerald Connect is buying 50 Below’s financial services division for $3.5 million.
Author:
Updated:
Original:

A U.S. Bankruptcy judge approves two companies to buy assets of 50 Below, a technology firm with more than 200 employees based in Duluth, the News Tribune reports.

ARI, a Milwaukee-based software company, is buying 50 Below's retail division for $5 million. San Diego-based Emerald Connect is buying 50 Below’s financial services division for $3.5 million.

50 Below filed for Chapter 11 bankruptcy in August citing liabilities of more than $12 million and estimated assets of no more than $50,000. According to court records, 50 Below owes the IRS about $8.9 million and about $1 million to the state.

Next Up

ambulance

State Patrol investigating fatal crash near Duluth

The crash was reported around 6:15 a.m. Wednesday.

eden prairie police squad car

Carjacking reported outside shopping center in Eden Prairie

One of the suspects reportedly displayed a weapon.

court gavel

8 people charged in Medicaid fraud scheme totaling $860K

Collectively, they're charged with 46 counts of felony theft.

vaping

Minnesota gets mixed grades on its tobacco report card

In Minnesota, the economic cost due to smoking is $2.519 million with 5,910 deaths per year attributed to smoking.

Hardy Wills-Traxler

Charges: Man stabbed his father, set his home on fire

The 25-year-old has been charged with second-degree murder and first-degree arson.

Impound lot

Crowded impound lot raises COVID concerns after Minneapolis snow emergency

A vehicle owner complains about the tightly-packed impound lot following the weekend's snow.

covid-19, coronavirus

Here is Minnesota's COVID-19 update for Wednesday, Jan. 27

The latest update from the state health department.

charley's

Charges: Bar owner, employee served underage drinkers during shutdown

The bar hosted 20-30 people on Dec. 4, 2020, charges say.

police lights

Driver wearing bulletproof vest strikes pedestrian in Rochester

The 21-year-old claimed the vest keeps him warm, according to police.

Related

3M to invest $50 million in China

A 3M executive says the $50 million investment is part of a "five-year strategy for China to increase annual sales 15 to 20 percent." The Maplewood-based manufacturer plans to develop new technology and products for the China market -- 3M's biggest overseas market.

Appeals court upholds Petters' 50-year sentence

A federal appeals court has ruled that Minnesota businessman Tom Petters received a fair trial. He was convicted and sentenced to 50 years in prison for orchestrating a multi-billion-dollar Ponzi scheme.

Duluth hospital becomes first in Minn. to ban sales of sugary beverages

Administrators at St. Luke's Hospital in Duluth have decided to stop selling sugary drinks at its main campus and all of its clinics. The director of hospitality told the News Tribune, “What we’re learning from data that’s out there is that sugar-sweetened beverages are a significant contributor to obesity." St. Luke's is reportedly the first hospital in Minnesota to ban the beverages. The hospital will offer diet sodas, flavored water and juices with no added sugar.