• Style
  • Women
  • Huff/Post50
  • Weddings
  • HealthyLiving
  • Divorce
  • Parents
  • Sign In / Register
  • stylelist home
  • huffpost style
  • FASHION
    • Departments

      Fashion News Fashion Features Fashion Trends Designers Models Accessories
      In The Market For Intern Diaries Step Into My Office Object of My Affection Stylelist Network Stories

      Featured

      Can You Guess The Child Model's Famous Aunt? Can You Guess The Child Model's Famous Aunt?
      Vintage-Obsessed Blogger Shares 18 Recent Finds Vintage-Obsessed Blogger Shares 18 Recent Finds
      Pinterest Cracks Down On Thinspirational Images Pinterest Cracks Down On Thinspirational Images
  • BEAUTY
    • Departments

      Beauty Basics Beauty News Beauty Features Beauty Trends Uptown Downtown Makeup Healthy Beautiful You
      Skin & Body Fragrance Nails Facetime The Unexpected Icon

      Featured

      This Student Reveals Her Bright-But-Wearable Pink Lipstick Shade This Student Reveals Her Bright-But-Wearable Pink Lipstick Shade
      Do You Use A Facespray Like This Yoga Instructor? Do You Use A Facespray Like This Yoga Instructor?
      Morgan Spurlock Waxes Philosophical On Mantyhose & Manscaping Morgan Spurlock Waxes Philosophical On Mantyhose & Manscaping
  • HAIR
    • Departments

      Hair Trends Hair How To

      Featured

      The Hair Doctor Is in: Consultation Is Key The Hair Doctor Is in: Consultation Is Key
      Guess Which Beauty Treatment She Gave The President Guess Which Beauty Treatment She Gave The President
      Can Pink Hair Look Sophisticated? Can Pink Hair Look Sophisticated?
  • CELEBRITY
    • Departments

      Style Evolution Look Of The Day Uptown|Downtown A Look Back

      Featured

      How Donna Summer Helped Me Through College How Donna Summer Helped Me Through College
      PHOTOS: Cameron Diaz's Life In 54 Looks PHOTOS: Cameron Diaz's Life In 54 Looks
      PHOTOS: 27 Stars Who Look More Beautiful Without Makeup PHOTOS: 27 Stars Who Look More Beautiful Without Makeup
  • CULTURE
    • Departments

      Art & Design Film Music Books & Magazines

      Featured

      How Long Does It Take To Become Mrs. Don Draper? How Long Does It Take To Become Mrs. Don Draper?
      5 Things This Hot New Musician Can't Live Without 5 Things This Hot New Musician Can't Live Without
      PHOTOS: SXSW Street Style PHOTOS: SXSW Street Style
  • FASHION WEEK
    • Departments

      Fashion Week Spring 2012 Fashion Week Fall 2012

      Featured

      Fashion Intern Tells All From Behind The Scenes At Two British Magazines Fashion Intern Tells All From Behind The Scenes At Two British Magazines
      Prada's Take On Ombre Prada's Take On Ombre
      The Intern Diaries: Behind The Scenes At A British Magazine The Intern Diaries: Behind The Scenes At A British Magazine
  • VIDEO
  • STYLELIST NETWORK

Samsonite's Retail Unit Files for Chapter 11 Protection

by Bee-Shyuan Chang (Subscribe to Bee-Shyuan Chang's posts)
Posted Sep 3rd 2009 at 5:30PM  
1 Comment
Share
Samsonite luggage

Samsonite is trying to pull itself out of the red by filing for Chapter 11 bankruptcy restructuring. Photo: Samsonite.com

In another case of recession downers, Samsonite Corp.'s U.S. retail unit filed for a Chapter 11 petition in the U.S. Bankruptcy Court in Wilmington, DE, reports The Wall Street Journal.

The luggage maker's Chapter 11 filing sought to restructure the company but is not seeking bankruptcy creditor protection.

Samsonite is still promising to pay creditors once the company emerges from the restructuring -- an estimated 45 to 90 days, says the newspaper.

According to the petition, Samsonite is planning to shift focus to its outlet shops and proposes to close up to 84 stores including its high-end stores.

Based out of Mansfield, Mass., the company's secretary and treasurer, Kyle Gendreau said in a prepared statement, "The recession has caused a severe decline in consumers purchasing travel-related goods and the company has responded to this critical situation with a substantial restructuring program," cites the source.

Samsonite Company, which also includes luxury luggage line Samsonite Black Label (acclaimed for collaborations with Alexander McQueen and the more accessible American Tourister), currently employs about 650 people.

Want to know which other retail brands are having a tough time in this economy? Read about fashion and the recession here.
Read All Comments
Filed under: News
Tags: Alexander McQueen, AlexanderMcqueen, bankruptcy court, BankruptcyCourt, Chapter 11, Chapter11, luggage, Samsonite, Samsonite Black Label, SamsoniteBlackLabel
Share

Style Around the Web

ImaxTree

ImaxTree

  • Make Up Tips For Girls With Glasses - Refinery29
  • How Celebs Work Red Into Their Wardrobe - FabSugar
  • Celebrity Wardrobe Malfunctions - The Daily Beast
  • Deodorants that Actually Work - Daily Candy
  • Would You Wear Long-Sleeve Shirts As Skirts? - The Frisky
  • Tricks That Guarantee Gorgeous Hair - Daily Makeover
  • Celebs Have Us Seeing Stars - People Style Watch

Related Videos

by 5min
  • Learn about Chapter 11: Bankruptcy Restructuring Learn about Chapter 11: Bankruptcy Restructuring Play Khan Academy Presents: Chapter 11: Restructuring through a bankruptcy
  • Silent Hill 2 - Chapter 11 - Mission 2 [2/2] Silent Hill 2 - Chapter 11 - Mission 2 [2/2] Play MacemanDerek Presents: Silent Hill 2 - Chapter 11 - Mission 2 [2/2]
  • Silent Hill 2 - Chapter 11 - Mission 2 [1/2] Silent Hill 2 - Chapter 11 - Mission 2 [1/2] Play MacemanDerek Presents: Silent Hill 2 - Chapter 11 - Mission 2 [1/2]
  • Silent Hill 2 - Chapter 11 - Mission 1 [3/3] Silent Hill 2 - Chapter 11 - Mission 1 [3/3] Play MacemanDerek Presents: Silent Hill 2 - Chapter 11 - Mission 1 [3/3]
 
ADD A COMMENT
  • NEW USER
  • RETURNING USERS
  • AOL/AIM USERS

Got something to say? Say it!

Simply enter your name and e-mail address, and you'll receive an email confirming your comment and issuing you a password. Use that password, and you're good to go.

If you already have an AOL/AIM screenname, log in under the other tabs.

Happy commenting, and keep it classy.

Members enter your username and password.

Enter your AOL or AIM screenname and password.

ADVERTISEMENT

STAY IN THE LOOP!

Most Popular

 
 
When Jenny Was Still From The Block
Like

8

'American Idol' Changes Record Contract Policy: Runner-Up No Longer Guaranteed Major Bucks
Like

128

C.Z. Guest's Unusual White Accessory
Like

13

First Woman To Command A Warship In Royal Navy History
Like

339

America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)
Like

895

Your Grandma Could Rock A Bikini
Like

4

The Richest Woman in the World: How Gina Rinehart Earns her Billions
Like

1K

What Happened When Alex Kenjeev Paid His Student Loan in Cash
Like

2K

Carrie Fisher's All Tied Up
Like

0

Samsung Galaxy S III review
Like

2K

Carrie Underwood's Grunge Rock Past: 'I Was All About Pearl Jam'
Like

165

Look Of The Day: Solange Gets Garden Party-Ready
Like

10

Mary J. Blige, Charity Lawsuit: Singer's Foundation Sued for Failing to Repay $250K Loan
Like

64

Hawkeye and the Blue Ear Help a Mother and Her Hearing Impaired Son
Like

2K

Safeway Worker Stops Man From Beating Pregnant Woman, Gets Suspended
Like

352

Hot on Facebook

 
 
8 Foods That Can Be Used As Beauty Products
Look Of The Day: Kate Stuns In Calvin
Stevie Nicks' Truly Epic Outfits Through The Years
Look Of The Day: Tilda Continues Her Chic Streak
6 Ways We're Shaving Our Legs Wrong
When Jenny Was Still From The Block

MORE ON Stylelist

Outdoor Decor
Inspiration Create A Getaway Feel For Your Backyard, Patio Or Balcony
City Gardening
Gardening and Landscapes Tips For Growing A Garden In A City
Room Makeover
Know-How 3 Life-Changing Room Makeovers
Weekend Diys
DIY Weekend DIY Ideas: 8 Ways To Fix Up Your Home In 2 Days Or Less (PHOTOS)
Ray And The Ro Ksubi
Stylelist Network Ksubi 'Bad Sports' Lookbook: From The Stylelist Network
Memorial Day Sales
Projects Memorial Day Sales 2012: Home Decor And Outdoor Furniture Sales At Macy's, Sears, Home Depot And More (PHOTOS)

SITES WE LOVE

5 Outfits To Try This Week: Sneakers, Overalls, & More

Score The Perfect Blowout Or A Pro Bun At Home, Thanks To Gwyneth Paltrow

Is This Any Way To Treat A Birkin?

Get Jordin's Lacy Look For Less

Mary Kincaid: Weekly Roundup of eBay Vintage Home Finds (PHOTOS)

PHOTOS: Nicole Scherzinger Almost Reveals Too Much

Carine Roitfeld, Janet Jackson, Karl Lagerfeld, and More at Last Night’s amfAR Gala in Cannes

Natalia Vodianova Was Royal in Blue

Cathy Horyn Deems Mickey Drexler’s Life ‘Not the Stuff of Novels’

Scrub Down: Hadali Detoxifying Body Scrub

Dressed In White: Sophie Theallet Sea Island White Cotton Gown

Patriotic Purse: Edie Parker Red, White and Blue Jean Clutch

Heat It Up: 5 Cool Outfits Inspired by Our Favorite Summer Movies

One Awesome Thing: A Swimsuit to Make You Feel Like a Bond Girl

Look of the Day: Leopard Meets Brights

Kim Kardashian a Kopy Kat?

Priscilla Chan’s Wedding Secret

Mozart Meets the Future

EVEN MORE ON Stylelist

Design
Clean Home
Beauty
Home Design
Hair Highlights
 
  • Terms of Service
  • Privacy Policy
  • Trademarks
  • Advertise
  • About Our Ads
  • Get AOL
 
 
© 2012 AOL Inc. All Rights Reserved