New owners of Price Busters to keep all company employees

HONOLULU (HawaiiNewsNow) - A company that helped bring national retailers Costco, KMart, Starbucks and Jamba Juice to the islands is buying a well-known local discount chain.

The MacNaughton Group has formed a joint venture with the Kobayashi Group to buy ERT Sales of Hawaii, owner of the Price Busters and Let's Party stores.

Locally owned ERT Sales, which currently operates eight stores on Oahu, filed for chapter 11 bankruptcy protection.

The new owners also plan to retain the company's 270 employees.

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