Updated at 2:16 p.m., Friday, January 25, 2008
U.S. Dry Cleaning reports director buying shares
Advertiser Staff
U.S. Dry Cleaning Corp., owner of Young Laundry in Hawai'i, reported one of its directors had acquired 61,359 shares of the company's common stock.The company said Martin Brill had purchased the stock at a price of $1.30 a share in converting Series A Convertible Debentures into common stock.
The company said it transaction followed one by U.S. Dry Cleaning Chief Executive Officer Robert Lee, who bought 188,510 shares at prices that were above the market price.
Palm Springs, Calif.-based U.S. Dry Cleaning is attempting to consolidate the dry cleaning business by building regional operations, issued shares last summer at $2.50 each. Since that time the share price has fallen and closed at 83 cents today.
