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Samsonite stores bankrupt

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The retail unit of Samsonite Luggage filed for Chapter 11 bankruptcy last week, with plans to rapidly close 84 stores. The move is designed to increase profitability by halving the number of existing retail outlets. Merchandise is to be liquidated this fall.

Samsonite expects no disruption of business beyond the proceedings and store closings. The company blamed the recession's impact on travel as the main driver of the bankruptcy filing.


Extended Stay Hotels bankrupt

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Extended-stay hotel chain Extended Stay Hotels filed for bankruptcy protection to mitigate a huge debt load. The filing, which pits the chain's new owner against its creditors, may have legal ramifications affecting many lenders and the U.S. government. No word is available on how the bankruptcy may affect Extended Stay Hotels' 680 locations.


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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