- Jun 12, 2001
- 8,757
- 43
- 91
For all you mallies, Gadzooks goes belly up I guess you can go find some hot deals as they close your store. I remember it was hip about three or four years ago before it started to offer mediocre clothing. It was good for guys and girls, I picked up a couple of bowling shirts before they became too popular. I wonder if they would still be in business if they kept to the fringe and eclectic style of clothing.
Snippet:
NEW YORK (Reuters) - Gadzooks Inc. Tuesday filed for bankruptcy after the struggling clothing retailer suffered a weak holiday shopping season, according to court records.
Gadzooks (GADZ: down $0.56 to $0.48, Research, Estimates), a Dallas-based chain of more than 400 stores aimed at teenage girls, filed for Chapter 11 protection in the U.S. Bankruptcy Court in the Northern District of Texas. In Chapter 11, a company is protected from creditors while it restructures and tries to work out a plan to pay its debts.
Its filing listed total debts of more than $42.5 million and assets of about $84.6 million.
The company is closing 31 stores and will shutter another 125 in the coming weeks. Gadzooks said in addition to jobs affected by store closings, it will also eliminate a number of positions elsewhere in the company.
Snippet:
NEW YORK (Reuters) - Gadzooks Inc. Tuesday filed for bankruptcy after the struggling clothing retailer suffered a weak holiday shopping season, according to court records.
Gadzooks (GADZ: down $0.56 to $0.48, Research, Estimates), a Dallas-based chain of more than 400 stores aimed at teenage girls, filed for Chapter 11 protection in the U.S. Bankruptcy Court in the Northern District of Texas. In Chapter 11, a company is protected from creditors while it restructures and tries to work out a plan to pay its debts.
Its filing listed total debts of more than $42.5 million and assets of about $84.6 million.
The company is closing 31 stores and will shutter another 125 in the coming weeks. Gadzooks said in addition to jobs affected by store closings, it will also eliminate a number of positions elsewhere in the company.
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