Founded in 1961 and once viewed as a pioneer in the CE retail industry and a master of re-invention, the employee-owned Vann’s was forced to file for Chapter 11 bankruptcy protection in 2012 (and ultimately Chapter 7 liquidation).
The retailer was eventually acquired by McMagic Partners and now operates a single storefront in Billings, Mont., as well as an e-commerce site.
“After a second day of deliberation, a jury found former Vann’s Inc. CEO George Leslie Manlove guilty Friday of federal crimes including conspiracy, wire fraud and money laundering.”