Companies that filed for bankruptcy

17 years ago

There is an email being circulated that admonishes to hurry and redeem gift cards. The list I received includes Circuit City and Bed, Bath, and Beyond, but these two companies have not filed bankruptcy as yet. According to Snopes, analysts suggest Circuit City may be on the path to closing or filing bankruptcy and Blockbuster has offered to purchase, but Circuit City has not as yet filed.

The following companies have, indeed, filed for bankruptcy......

Movie Gallery (Hollywood Video) in 2007 and is closing many of the stores

Sharper Image

Linens n Things

Lillian Vernon

Ionic Breeze air purifiers

The Children's Place

Power Mate Pens

Trump Casinos (again)

P.C. Magazine

And, there are many more, including several airlines. Filing bankruptcy doesn't necessarily mean a business will close their doors. Sometimes, they do it in order to protect themselves from creditors during re-organization. Levitz furniture company is on the email list, which has filed for bankriptcy several times before. I don't know if they plan to close this time though.

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Comments (15)

bostonpat_gw
17 years ago
Snopes Claims this is partly true

Here is a link that might be useful: Partly True
foggyj
17 years ago
Thanks for that. I was about to order from a catalog, but quickly opted not to, as I got burned from The Paragon Co. going bankrupt. Lost my money on that one, now I'm very hesitant to order from catalogs.
Where is the best place to check on the situation?
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Suppliers are a very good source of info... they can tell you who is paying their bills. However, these pool companies have high overhead and high credit lines that they went under without much warning. ItÂs like they just keep on going until they canÂt get any more credit. I am thankful that my wife is an accountant and she keeps everything in line. HGTV showcased our company from start to finish on a major renovation to a pool here in Orlando that had a large structural crack. We also added a gunite spa, paver deck, landscaping, etc. It aired on February on the show Ground Breakers. It has kept us busy fixing the sloppy stuff some builders is doing just to make a cheap pool. We are seeing less quality now that everyone is just trying to build a cheap pool. They donÂt worry about quality. I donÂt think I would bother too much with talking to previous client because of course they are going to send you to the happy customers. A good idea is to ask to see some pools under construction so you can see the quality and talk to some of the subcontractors or employees. I am sure you will get an earful if the contractor is behind on payroll! Good luck, sorry I canÂt give more info since I am a pool builder. I can get you some names of local suppliers and subcontractors so you can do your own research. Also, be careful about the payment schedule! Jason
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"I think I've worn out the newness for BB&B." LOL. I don't shop there often, but I sure hope they don't close. I got a great Farberware non-stick 10" pan that's dishwasher-safe and oven proof for $10 off. So declaring bankruptcy doesn't necessarily mean going out of business. I guess they could be bought out by another company, huh?
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In my town, Walmart has layed off many of its associates and cut the hours of most floor and door greeter employees to 20/week or less. One elderly lady, a checker, was telling those of us in her lane, that she was working 40 hours and now is only scheduled for 12 hours this week. I realize this is a tourist town, but this action is unwarranted - Walmart has THE MONEY to take care of its people - it just chooses not to. This scenerio isn't unique to Walmart - MOST retailers are doing the same thing, or worse yet - going out of business. I just don't know that these retirees/disabled workers are supposed to do to survive. It's such a shame that these older workers/disabled workers/uneducated workers and single parents are being displaced in this manner - they are the ones that made this country, by doing the grunt labor, and they can't just run out and get another job. They aren't working for low wages because they WANT to - they are forced to because of this economy - a real sad statement of the economical status of our country. One of my sons has several college degrees and can't find a job - even a low-paying job (he is currently working on his Ph.D)! His wife has a masters degree in forensic science and is working at a retail tourist shop because the government has a freeze on new jobs in her field of study!!! They live in Washington D.C. The economy is in peril FOR SURE!
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bestlawn
Original Author
17 years ago
Foggyj, I check snopes against that email. Also did a general search and found this article. The looked up almost half of them and they all check out. Bankruptcy is public record though. You can find them with a better search than I did. I just don't know exact the site(s) without have to check every county in the country.

Here are a couple good articles:
Wave of Bankruptcies New York Times article
S & P Watchlist USA Today article

These are supposedly the companies on the watchlist:
Blockbuster
Chiquita brand Int'l
Duane Reade
Eddie Bauer
Guitar Center
Krispy Kreme
Linens and Things
Loehmann's
Marie Callender's
Motor Coach Industries
Panavision
Perkins
Real Mex Restaurants
Recycled Paper Greetings
Sbarro
Six Flags
Unvision Communications
Uno Restaurants
Water Pik
lydia1959
17 years ago
Foggy, I didn't know the Paragon went bankrupt! I used to order a lot from them. Sorry you had the bad experience.
jannie
17 years ago
Hey ,folks ,nobody wants to believe we're in a Recession that's heading for a Depression.
brenda_in_tx
17 years ago
Why does this post show 17 responses yet I see only 6?? Is something funky with my computer??
workoutlady
17 years ago
Me too. What's up with that?
sue_va
17 years ago
Actually it says 19 now and there are 7 responses. Guess 12 of them went bankrupt!

Sue
mariend
17 years ago
Thank you all for posting this information. Even the stores/catalogs that have been around for year have to be watched.
Home Depot is closing its Bismarck ND store and it is only about 3 years old along with many more. But then they are higher that most.
joyfulguy
17 years ago
As for the number of posts here ...

... maybe some speaking out of both sides of their mouths?

It is sort of nice not to feel the need to be buying much stuff.

On return trip from a cousin's funeral last month, another cousin suggested to me that it's time to winnow down my stuff, leaving less for my kids to dispose of when I'm not going to use them any more, whether due to moving into an apt., residential home, nursing home ...

.. or final departure.

Different strokes for different folks, huh?

ole joyful
brenda_in_tx
17 years ago
"... maybe some speaking out of both sides of their mouths? "

Huh?? I'm still confused as to why posts are missing but it seems others have the same issue so I guess it's not my computer.
joyfulguy
17 years ago
As I recall, Bestlawn made some additional comments. I don't see any now, do you?

Administration has an eraser ... which they use on occasion ... not getting involved with anything remotely resembling "censorship", you understand.

I've heard that Bestlawn has been banned.

She may disagree with folks from time to time, and I think that it's fair to say that sometimes I've felt her replies to be couched in less diplomatic language then I felt comfortable with, but I do believe that she could disagree without being disagreeable.

Sometimes she is (was) rather good at keeping the discussion on track and I felt at times was something of an antidote for some unusual (strange?) opinions that had been expressed.

I think that sometimes it would be well if a few participants here were to back off a bit, disengage themselves some from their opinion and not feel personally insulted when someone disagrees with them ... to develop a bit thicker skin.

I've written to admin to ask that her ban be lifted.

ole joyful
joyfulguy
17 years ago
There is one further comment from Bestlawn that remains.

o j
daveinla
17 years ago
and who is the OP of this thread?
joyfulguy
17 years ago
Far be it from me to have the temerity to second-guess admin ...

... however ...

... could be they figured that the topic here is worthwhile.

But, if they have banned bestlawn, as has been suggested, it may have been some of the fussing that took place later between a few posters that had them take the eraser to some of the "offerings".

Otherwise ...

... maybe the gremlins were responsible for those problematic erasures?

I guess some folks who figured when they saw the number of posts offered at this restaurant that they were in for a full-course meal ...

... were seriously disappointed when they found that there was little here but horse de oeuvres (hors d'oeuvres?).

That's about all that I can offer as potential reasons on the subject.

ole joyful

Companies that filed for bankruptcy

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