Door Store files for Chapter 11 bankruptcy protection
Retailer operates nine locations in New York, New Jersey
Clint Engel -- Furniture Today, May 28, 2009
NEW YORK — Door Store, with nine stores in New York and New Jersey, has filed for Chapter 11 bankruptcy protection.At least 11 furniture suppliers are listed among its Top 20 unsecured creditors with claims totaling nearly $600,000. Actona, the Scandinavian supplier of home office, youth and other furniture, is listed as the second largest unsecured creditor, owed a disputed $181,643, according to court documents.
In its petition filed Wednesday, the company listed assets of $2.6 million and debts of $2.2 million.
Jodi Fitzgerald, president and COO of the family owned business established in New York in 1955, said in a court document that the company's financial difficulties were caused by "the general economic climate resulting in weakening sales, unprofitable lease locations, litigation with landlords and diminishing operating funds."
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