Ultra Stores bankrupt

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Ultra Diamonds' parent company Ultra Stores filed for bankruptcy protection due to the now-expected liquidity and economic concerns. The company has defaulted on some loans but stated it had financing to temporarily continue operations. Cost-cutting maneuvers have been underway since the 2007 holiday season, long before the economic crisis hit.

Ultra Diamonds runs the jewelry counters at such stores as Filene's Basement and Burlington Coat Factory and has 181 locations.

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Timely Demise tracks the retail industry as it changes with our unprecedented economic environment. Published by David Wertheimer. Did I miss something? Drop me a line.

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This page contains a single entry by David Wertheimer published on April 10, 2009 3:42 PM.

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