Business slump puts retailer Treasures in Ch. 11

May 2012
Furniture/Today;5/21/2012, Issue 36, p4
Trade Publication
The article reports that high-end retailer Treasures Furniture filed for Chapter 11 bankruptcy protection on May 8, 2012 due to housing crisis and slowdown in business in 2011. According to court documents, the retailer owes trade and other debt of nearly 3.6 million dollars, including 2.1 million dollars to its unsecured creditors and 485,000 dollars to the California State Board of Equalization. Moreover, experienced financial difficulty in early 2007.


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