EAST ST. LOUIS, Ill. (AP)- A travel-marketing firm based in Wood River, Ill. says it will emerge from bankruptcy now that a judge has signed off on the sale of assets for $3.5 million.
The St. Louis Post-Dispatch (http://bit.ly/17kA5nH) reports that an East St. Louis federal bankruptcy court has approved the sale of YTB International to Jamraval Inc.
YTB is a seller of Internet-based travel services and products. It filed for Chapter 11 bankruptcy in March.
The company’s new owner, Sam Hathi, will oversee YTB’s day-to-day operations.
YTB’s president and CEO, Andy Cauthen, will remain at the 12-year-old company in an unspecified management position.
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