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Dean & Deluca owner bids to buy back business it bankrupted

Thailand’s Pace Corporation, the firm responsible for bankrupting its gourmet grocery business Dean & Deluca earlier this year, has bid US$10 million to buy back the firm. The firm has offered to use half of the investment as a gesture towards creditors, owed $26.5 million by the failed business, which would represent a payout of less than 20 cents in the dollar. “Dean & Deluca overexpanded and lost what made them special,” debt expert Adam Stein Sapir told The New York Post. “Bu