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Article: PAUL HARRIS FORCED TO LIQUIDATE.(Paul Harris Stores Inc.)(Brief Article)
- Article from:
- WWD
- Article date:
- March 6, 2001
- Author:
CopyrightCOPYRIGHT 2001 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Paul Harris Stores Inc. has finally decided to called it quits after a long struggle for survival. The last blow was the chain's inability to get a $9 million cash infusion.
The decision to liquidate the chain is just the latest of several retail consolidations since the end of December. Last month, Hit or Miss received bankruptcy court approval to liquidate; Bradlees has already shut down; Wards is also liquidating, and other retailers are moving in to cherry pick the best locations.
Paul Harris said Monday it was developing a plan for the company's liquidation because it was unable to obtain either financing or vendor support to implement ...