CDW fights allegations
CDW Corp. is denying allegations by disgruntled creditors that it did anything wrong when it purchased Micro Warehouse Inc. last September.
The day after the Vernon Hills, Ill.-based reseller acquired the company for $22.7 million, Micro Warehouse filed for Chapter 11 bankruptcy.
The rapid bankruptcy filing led Micro Warehouse's creditors to believe they were shortchanged in the deal. They are seeking documents and depositions to see if the acquisition constituted a "fraudulent transfer."
When the acquisition was announced, CDW indicated that Micro Warehouse had annualized August U.S. sales of about $900 million. CDW "believes that it paid reasonably equivalent value for such assets," the company said in its filings with the Securities and Exchange Commission.