CEO Hospitalized Amid $500M IPO
Michael Stores CEO Hospitalized Amid
Michaels Stores CEO John Menzer has been hospitalized, the company disclosed on April 20th, but did not provide additional information regarding the incident.
Menzer, age 60, oversees the nation's #1 arts and crafts retailer and operates 1,066 stores, canvassing 49 states and Canada, and an additional 130 Aaron Brothers stores.
Michaels Stores is planning to return to the public stock markets, announcing late March that it filed for a $500 million initial public offering. The filing came six years after private equity firms The Blackstone Group and Bain Capital LLC bought the Irving, Texas, company in a $6 billion leveraged buyout.
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