EAST ST. LOUIS, Ill. (AP) — A travel-marketing firm based in southwestern Illinois says it will emerge from bankruptcy now that a judge has signed off on the sale of assets for $3.5 million.
The St. Louis Post-Dispatch reports that an East St. Louis federal bankruptcy court has approved the sale of YTB International of Wood River, Illinois to Jamraval Incorporated.
YTB is a seller of Internet-based travel services and products. It filed for Chapter 11 bankruptcy in March.
The company's new owner, Sam Hathi, will oversee YTB's day-to-day operations.
YTB's president and CEO, Andy Cauthen, will remain at the 12-year-old company in an unspecified