Corpcapital pulls out of CNA deal

Corpcapital has decided not to buy the CNA chain of stores, saying that it "is not satisfied as to the outcome of the due diligence investigation". However, Mark Gordon, CNA chairman, says that Corpcapital didn't complete the investigation and asked for more time to do so. CNA, he says, was not prepared to give them an extension due to the number of other people interested in talking to them about the business. Over the next couple of weeks CNA will be talking to various other parties, and Gordon is confident that a solution will be found to keep the business afloat.