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Byline: Casey Cep Damages Johnson & Johnson and the new war on consumer protection. God gives you only one body, Deane Berg always said, so you'd better take care of [...]

Barney's Inc. sent a communique saying it was furious about the agreement reportedly reached by Saks and Co. and Isetan Company Ltd regarding its restructuring. The agreement would charge Saks with running Barney's and result in the ouster of the Pressman family as Barney's current owners and managers. Industry sources say the adoption of the plan in bankruptcy court will depend on whether Barney's' creditors throw their support behind it. Barney's has written to the court stating that Saks or no other third party has a right to interfere in its restructuring negotiations with Isetan., NEW YORK--Barneys New York is 'outraged' by Saks Fifth Avenue and Isetan Co. Ltd.'s agreement to join forces to possibly reorganize the bankrupt Barneys chain. The reaction is hardly surprising, [...]

Apparel and retail companies which have filed for bankruptcy are having a more difficult time extirpating themselves from bankruptcy proceedings, while the number of bankruptcy filings seems to be decreasing overall. No major bankruptcies have occurred yet in 1997, continuing a trend that began in spring 1996. Of all companies that filed for bankruptcy in 1996, only one has managed to emerge from bankruptcy court with a satisfactory reorganization plan.

Vulture funds, which are now a major factor in retail Chapter 11 bankruptcy protection, have growing difficulties with uncertain filings, increased competition, and smaller distress claims. These funds seek and purchase trade claims against retailers who have filed for Chapter 11 protection on their own account or for others, such as mutual funds. Claims are collected when the retailer is discharged from bankruptcy., NEW YORK - For vulture funds, the past six months have been perhaps the most challenging time in the five years or so since they became a significant factor in [...]

Specialty retailer Barneys Inc, which is disputing with Japanese partner Isetan Ltd over the validity of the retailer's financial results, has asked that the bankruptcy court approve the release of $20 million of its debtor-in-possession financing to fund spring merchandise. Barneys CFO Irwin Rosenthal testified in court that the retailer had less than $1 million on hand, yet the value on the open market of suppliers' claims against Barneys is being driven down by the squabbling. Analysts predict that likely buyers of the claims, since they can obtain little credible financial information, will probably pay no more than 50 cents on the dollar for them., NEW YORK -- 'Vulture fund' operators drove the price of claims against Barneys down sharply Tuesday as the cash strapped retailer scrambled in bankruptcy court to get emergency debtor-in-possession funding [...]

Both Plaid Clothing Group Inc and Bidermann Industries USA filed for Chapter 11 protection during Jul 1995. Plaid Clothing's failed bid for GFT SpA and Bidermann's insufficient cash flow and inadequate credit are several reasons that led the companies to file for Chapter 11. Bidermann has hired Alvarez & Marsal turnaround specialist and will focus on streamlining its operations. Plaid plans to reorganize and has signed a $75 million debtor-in-possession credit facility with TransAmerica Business Credit Corp., NEW YORK (FNS) - Faced with a lack of credit and insufficient cash flow to service its high level of debt, Bidermann Industries USA Inc. filed a Chapter 11 petition [...]

R. H. Macy's and Company Inc has presented several reorganization plans to former secretary of state Cyrus Vance, the mediator in the company's bankruptcy hearings. Federated Department Stores Inc, which is hoping to acquire Macy's, will argue for the implementation of a budget-slashing plan similar to one which brought itself out of bankruptcy several years ago. The conflicting financial interests in the case are Macy's bondholders and creditors, who disagree about the price of the company., NEW YORK -- R.H Macy's future is now in the hands of bankruptcy mediator Cyrus Vance. On Monday, Vance was presented a short list of reorganization options by Myron E. [...]

Leslie Fay Companies Inc have filed for voluntary Chapter 11 petition after an accounting scandal left the company without means of getting credit. Company officials report that the company will reorganize to protect itself and to solve its financial difficulties. Citibank will give the company a $100 million debtor-possession loan to maintain operations. Company officials report that the reorganization plan includes paying creditors 100% of their money. Accounting problems surfaced when it was discovered that recorded profits really amounted to hidden losses in 1992., NEW YORK -- Stained by the spillover from its accounting scandal and finding itself without credit, The Leslie Fay Cos. Monday filed a Chapter 11 petition to reorganize. Michael J. [...]

Lacroix Bankruptcy Sale Hits Snag PARIS The Ajman sheikh who seemed poised to rescue couturier Christian Lacroix from bankruptcy did not submit financing guarantees ahead of a crucial hearing at [...]

Yamamoto Rescued From Bankruptcy TOKYO Yohji Yamamoto stopped just short of being fashion's latest financial casualty. Yohji Yamamoto Inc. filed for bankruptcy protection with the Tokyo District Court on Friday [...]

Gordon Brothers Wins Auction for Finlay Gordon brothers retail partners on Thursday won the bidding auction for Finlay Enterprises Inc. The liquidation firm had been the stalking-horse bidder for the [...]

Norton Ponders Next Steps NEW YORK The volatile economy forced Mary Norton to shutter her namesake brand last week, but the designer is eyeing a future in the footwear industry. [...]

Christian Lacroix in Administration PARIS Christian Lacroix SNC was placed in administration for a period of six months by the commercial court here Tuesday. The closed-door hearing, following the firm's [...]

LI & FUNG ON KB TOYS: Hong Kong-based sourcing giant Li & Fung Ltd. said Monday that it 'suffers' an exposure of about $5 million to KB Toys, which recently [...]

NEW YORK (FNS) -- Federated Department Stores, Inc., and Allied Stores Corp. filed their disclosure statement and an amended Chapter 11 plan Monday and ran into mixed reaction. There was [...]

Byline: Kelly Devine Thomas Amid rampant speculation and $100 million bids, the dramatic fall of one of the art market's highest fliers threatens business as usual. It's much better than [...]

Judge OKs finance plan for Federated CINCINNATI - 'You're in business,' Bankruptcy Judge J. Vincent Aug Jr. told Federated Stores Inc. late last Thursday after approving an interim financing plan [...]

NEW YORK -- Footstar plans to appeal a court decision mandating that it exit 30 Kmart stores. U.S. Bankruptcy Judge Adlai Hardin earlier this month ordered Footstar to vacate stores [...]

WASHINGTON -- The U.S. Supreme Court declined to intervene on Monday in a lower court ruling that said Kmart Corp., after filing for bankruptcy in 2002, erred in paying debts [...]

PARIS -- Balmain, the French fragrance and fashion house that last month filed for the French equivalent of Chapter 11 debt protection, has been granted six months to pull itself [...]

NEW YORK -- Factory 2-U Stores Inc. on Tuesday did what it managed to avoid doing last year, filing a Chapter 11 petition seeking bankruptcy court protection. The filing, in [...]

NEW YORK -- BlissWorld LLC opened its first U.S. QuickBliss, a counter equipped to perform spa services, in Bloomingdale's flagship on Lexington and 59th Street last week. The Bloomingdale's counter [...]

Kmart's Rocky Road: $1B Creditors Reject Bankruptcy Exit Plan Byline: Vicki M. Young NEW YORK - Just when Kmart thought it had bankruptcy court approval of its reorganization plan all [...]

In a Form 10-K filing with the Securities and Exchange Commission that also contained news of a profitable fourth quarter and full year for the firm, Kasper gave details of [...]

MORE TIME FOR BURLINGTON: Bankrupt Burlington Industries Inc. has a bit more time to get its financial affairs in order. The Greensboro, N.C.-based company said Monday that the Wilmington, Del., [...]

CONAWAY ON THE LINE: Kmart Corp.'s lawyers said in bankruptcy court Tuesday that, because former chief executive Charles Conaway failed to warn its board of liquidity problems, the bankrupt discounter [...]

The bankrupt discounter's loss more than doubled in the three months ended Oct. 30 from the year-ago period, and the company said the critical holiday sales outlook remains murky. For [...]

NEW YORK -- If retailing were a democracy and vendors were voters, the informal polls would have Kmart Corp. filing Chapter 11. Alan Melamed, who heads up a credit reporting [...]

NEW YORK -- Attempting to stem the flow of red ink and focus on its 18 top performing stores, Jacobson Stores Inc. Tuesday filed for Chapter 11 bankruptcy court protection [...]

NEW YORK -- When Burlington Industries filed for Chapter 11 in November, a major reorganization plan was expected, but most observers were not prepared for the magnitude of the changes [...]

LOS ANGELES -- Contemporary brand Bisou Bisou has filed for Chapter 11 reorganization for its 15-store retail operation in bankruptcy court here. The filing, which came Friday, doesn't include the [...]

NEW YORK -- Kmart Corp. was under the gun last week after Prudential Securities downgraded the stock and raised the possibility of a bankruptcy filing. Wayne Hood, retail analyst with [...]

Fog Plan Cleared: London Fog Industries said Friday that its Chapter 11 plan of reorganization was confirmed by a Delaware bankruptcy court. The plan calls for unsecured creditors to receive [...]

NEW YORK -- Bill's Dollar Stores on Wednesday filed a voluntary petition for Chapter 11 bankruptcy court protection in Delaware. The 410-unit chain -- operating in 13 states, mostly in [...]

NEW YORK -- Just months after denying speculations that it was struggling to keep its head above troubled financial waters, Converse Inc. last week filed for Chapter 11 bankruptcy protection, [...]

NEW YORK -- Bradlees Inc.'s apparent move to liquidate is expected to spark a spirited chase for its prime real estate in the coveted Northeast market. As expected, reports surfaced [...]

NEW YORK -- Another dot-com player may have written the final chapter in its short-lived fairy tale. E7th.com, the footwear and accessories sourcing Web site that went live on Sept. [...]

The financial burden of operating a golf-only retail site has prompted Mammoth Sports Group to file for bankruptcy protection. The Jessup, Md.-based parent company of golf e-tailer Mammothgolf.com announced Monday […]

NEW YORK -- Stage Stores Inc. said it has received bankruptcy court approval for its $450 million debtor-in-possession facility. Jack Wiesner, chairman and interim chief executive, said the financing 'will [...]

NEW YORK -- Stage Stores Inc., faced with a severe credit crunch since February and financial stress surrounding the circumstances leading to the pending $18 million lawsuit by its former [...]

LOS ANGELES -- Three unsecured creditors of Mossimo Inc., owed a combined $650,000, Tuesday filed an involuntary bankruptcy petition against the company, according to Mark D. Brutzkus, an attorney representing [...]

NEW YORK -- Joan & David Helpern Inc. is shutting a dozen stores, including its 104 Fifth Ave. flagship in New York, as part of its Chapter 11 reorganization. The [...]

NEW YORK -- Ithaca Industries has filed for Chapter 11 bankruptcy court protection in Delaware. The Wilkesboro, N.C.-based manufacturer of private-label underwear and T-shirts said in court papers that it [...]

NEW YORK -- Shares of The North Face kept dropping on Thursday following an announcement from the company that it might have to file for Chapter 11 bankruptcy court protection [...]

NEW YORK -- Less than two months into the new century, and six companies in apparel, beauty, retailing and textiles have joined the ranks of those filing for bankruptcy. Lamonts, [...]

NEW YORK -- One of the nation's oldest footwear firms, Endicott Johnson Inc., last week filed for Chapter 11 bankruptcy protection, amid weak sales during the holiday season. The Binghamton, [...]

NEW YORK -- Home improvement retailer Hechinger Co. is calling it quits, and Kmart said it will get back 110 former Builders Square locations that were taken over by bankrupt [...]

NEW YORK -- The U.S. Trustee in Delaware last week formed a seven-member unsecured creditors committee in the Loehmann's Inc. bankruptcy case, including Polo Ralph Lauren, Jones Apparel Group and [...]

NEW YORK -- Liberty House will have to wait another month for a shot at getting out of bankruptcy proceedings. A hearing for the Honolulu-department store operator regarding the approval [...]

NEW YORK (FNS) -- Bankruptcy Judge Howard C. Buschman has approved payment by J.W. May, Inc., of another $902,212 in professional fees in the company's Chapter 11 reorganization, bringing total [...]