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Jeffrey will replace Bernie Han, who held the leadership role since December 2019.
Both the attorney general's office and the Department of Consumer Protection are investigating the Norwalk company for possible violations of the Connecticut Unfair Trade Practices Act.
Frontier Communications has announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed its plan of reorganization, subject to...
Before the COVID-19 pandemic, The Paper Store employed about 2,000 people. According to reports, as of yesterday it employed about 393 people full-time and 554 part-time across all its stores, having furloughed the remainder.
The luxury apparel retailer joins such names as Neiman Marcus, J.Crew, J.C. Penney, and Chuck E. Cheese to file for bankruptcy over the past few months.
The firm has identified 248 stores that are set to be shuttered.
The Norwalk company filed for Chapter 11 last week, at the end of which its shares were trading at 22 cents, compared with $2.69 on April 17, 2019.
The Norwalk company lists total debt of $21.9 billion against assets of $17.4 billion. It plans on using the Chapter 11 filing to “generate sufficient liquidity from the restructuring to meet our obligations and operating needs.”
The corporation reported assets valued in the $10-50 million range, and has an estimated range of 1,000-5,000 creditors.
The chain's stores in Stamford and Pelham Manor will remain open during the bankruptcy process.
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