Beautifully engraved SPECIMEN certificate from the Great Train Store Company. This historic document was printed by the American Banknote Company in 1994 and has an
ornate border around it with a vignette of the company logo. This item has the printed signatures of the Company’s President and Assistant Secretary.
The Great Train Store Company, a Dallas-based national chain of train-themed toy, hobby and gift stores, filed for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the district of Delaware in February 2000. The filing was necessitated by the Company's poor performance and the decision of the Company's principal lender not to advance funds at a level sufficient to satisfy the Company's working capital requirements. A Chapter 11 proceeding is rehabilitative in nature and designed to give a company reasonable time to reorganize its operations and finances while being afforded certain protection from creditors' activities.
Under the Chapter 11 proceeding, the Company will continue to operate its business and manage its properties under court supervision as a debtor in possession. To facilitate the reorganization, the Company has obtained debtor in possession financing from its principal lender. With this financing, the Company anticipates it will be able to continue to receive merchandise in a timely manner, and expects to emerge from the reorganization as a stronger and more viable entity.
As part of this restructuring, subject to the approval of the Court, the Company currently expects to close up to approximately eleven of its fifty-six stores. As these eleven stores are under-performing, their closing should provide additional liquidity that can be utilized by the Company during the restructuring.
The Great Train Stores are owned and operated by The Great
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Certificates are actual authentic certificates and are sold only as collectibles.
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