Home / Knowledge / News / Apparel/Garments / Children's clothing store Rugged Bear files for Chapter 11
Children's clothing store Rugged Bear files for Chapter 11
28
Jan '11
The Rugged Bear Company, noted New England children's active wear retailer, announced that it had filed a petition for protection under Chapter 11 of the United States Bankruptcy Code due to its increasing liquidity constraints and a deteriorating relationship with some of its key landlords and vendors.

The filing will afford Rugged Bear an opportunity to close underperforming stores and to reorganize around its more profitable locations. Rugged Bear recently retained the services of Consensus Advisers, LLC, a Boston based financial advisor that is experienced in restructuring and reorganizing small companies like the children's clothier, to aid it in the creation of a restructuring plan and to negotiate on its behalf with vendors and landlords.

“We appreciate the amazing loyalty of all of our Rugged Bear customers and employees who continue to support the company and the changes that have to be made,” said Garrett Larson, President and Chief Executive Officer of Rugged Bear. “It's no secret that leases for stores negotiated even five years ago do not represent in many cases the economics needed to support a small retailer. We have the opportunity to make substantive changes to the basic and fundamental profit model of our store base.”

“We are most excited about the success of our new web presence where we continue to be amazed by double digit growth month after month,” Mr. Larson continued. “Its one of the absolute key aspects of our business model going forward.”

Rugged Bear also announced that Board of Directors member Bill End had previously decided to transition his role from Board member to Senior Advisor to the Company.

“By stepping down from the Board and moving into an advisory role, Bill will be able to more effectively and directly apply his knowledge of and experience in the retail sector to the Rugged Bear team,” said Frank Jenkins, Chairman of Rugged Bear. “We look forward to Bill continuing to work with us in this new capacity, and feel his guidance will be extremely valuable to the Company going forward.”

The Rugged Bear is a chain of retail children's clothing stores located in the Northeast US. For the last 30 years, Rugged Bear has offered high-quality, value-priced, durable and fashionable children's active wear to families in New England, New York and New Jersey.

Rugged Bear Company


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search