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Lechters Inc. (fka LECH) RSS Feed

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Global Partner: Here is the last company info: Lechters, Inc. Seeks Court Approval To Sell Or Liquidate Assets 2001 Sep 27 3:37 PM Lechters, Inc. announced that it is seeking court approval either to sell its operations or to cease its operations and liquidate its assets, according to papers filed in U.S. Bankruptcy Court in Manhattan. Lechters, Inc. Files For Voluntary Chapter 11 2001 May 21 2:15 PM Lechters, Inc. announced that it has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code, in the U.S. Bankruptcy Court for the Southern District of New York. Lechters also announced that it has arranged a $86 million debtor-in-possession financing commitment from its existing lenders, Fleet Retail Finance Inc. and Back Bay Capital Funding, to meet its future obligations. Lechters Stock to Trade on OTC Bulletin Board or Over-The-Counter 2001 Apr 16 9:26 AM Lechters, Inc., announced that its appeal to continue trading on the Nasdaq has been denied. A Nasdaq Listing Qualifications Panel ruled that due to the current share price, the Company no longer meets the minimum bid price and the stock will be delisted today effective with the open of the business. LECHTERS, INC. One Cape May Street, Harrison, New Jersey 07029 (973)481-1100 Lechters, Inc., incorporated in July 1975, operates leased houseware and giftware departments in discount department stores. The first Lechters Housewares store was opened in Rockaway, New Jersey. New store development emphasized mall locations, but was subsequently expanded to include strip center and city locations. In 1990, the Company created the Famous Brands Housewares Outlet concept, with the intent of offering housewares manufacturers not otherwise having a retail presence in outlet malls a venue experiencing substantial customer traffic and rapid new center development. On May 21, 2001, Lechters filed for reorganization under Chapter 11 of the United States Bankruptcy Code. 15,335,000 o/s LECH looks like a shell
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