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Article: Honolulu Book Shops writes final chapter
- Article from:
- Honolulu Star - Bulletin
- Article date:
- August 5, 1998
- Author:
CopyrightCopyright Honolulu Star - Bulletin Aug 05, 1998. Provided by ProQuest LLC. (Hide copyright information)
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After more than 50 years of selling books, Honolulu Book Shops is calling it The End.
The company, which filed for Chapter 11 bankruptcy reorganization in April, is liquidating and will close its lone remaining store -- at Ala Moana Center -- at the end of this month.
"The company's cash flow is marginal at the store," said Paul Sakuda, a former Amfac executive and the court-appointed trustee in the case.
"Essentially, it's been liquidating its inventory for a couple of months now. Very little book-buying has been occurring."
Sakuda decided to speed up the process by converting the bankruptcy to a Chapter 7 liquidation to pay creditors sooner.
About 20 employees last week were told they ...