Ex-Suitor of CD Warehouse Files for Bankruptcy

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Oklahoma City--Music retailer Djangos.com filed for Chapter 11 bankruptcy after it failed to obtain $5 million in financing to purchase CD Warehouse by the February 28 deadline. However, Djangos remains optimistic that a deal can be worked out despite its bankruptcy. The company offered to pay $1.50 for each CD Warehouse share back in October (see "CD Warehouse Expects a Comeback Even As Sale Looms") but had difficulty finding financing as market conditions worsened. -Daily Oklahoman

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