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CORTLAND, N.Y - Onetime typewriter king Smith Corona Corp. last week filed Chapter 11 for the second time in five years, signing an asset purchase agreement with Charlotte, N.C.based Carolina Wholesale Office Machine, a distributor of office equipment and supplies.
Under the agreement Carolina would pay about $6 million for Smith Corona's inventory, accounts receivable, intellectual property, equipment, dies and molds, and certain contracts and licenses. Carolina said it would continue the Smith Corona name, products and service after organizing Smith...