A LOCAL 8 WEATHER ALERT is in effect now through Monday afternoon as rain and snow effect travel. Valley locations can expect mainly rain, but if you are traveling east to the mountains you can expect 1 - 3" of snow. Traveling on the plateau, you will see rain change to snow Monday morning around 5am, North on I-75 into SE Kentucky look for a wintry mix to snow around 7am.
NASHVILLE, Tenn. (AP) -- The parent company of Hoover has purchased Nashville-based vacuum maker Oreck Corporation at a bankruptcy auction.
The Tennessean reports the family that founded Oreck had hoped to buy it back but lost the bid at a Monday auction to Royal Appliance Manufacturing Company.
According to a statement, Royal intends to close the transaction on July 24, subject to court approval.
Financial details of the winning bid were not released, but the Oreck family had submitted a $23 million bid at the beginning of the bankruptcy process.
The family's effort was led by former CEO Thomas Oreck. The family said they hoped to keep Oreck's manufacturing jobs in the United States.
Oreck has more than 200 employees at a manufacturing facility in Cookeville and several dozen corporate employees in Nashville.
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