Courts Now a Cobalt Company

Courts PLC - the parent company for Courts Belize and dozens of sister stores in the Caribbean and the UK - went bankrupt in 2004.

The company was put out to auction in mid 2005, and it was announced today that Cobalt Holding company from the British Virgin Islands has bought over Courts stores in the Caribbean.

A spokesperson at Courts Belize said that the buyout will have no effect on operations, credit arrangements or staff.

Cobalt holding is a subsidiary of Regal Forest Holdings, an El Salvador based company that owns 245 stores in 6 countries, sells furniture and electronics and offers in-store credit, just like Courts.