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

EU, Japan finalise Economic Partnership Agreement

Textiles | On 18th Dec 2017

EU, Japan finalise Economic Partnership Agreement

Building on the political agreement reached in principle during the...

WTO, ITC launch cotton portal to enhance transparency

Textiles | On 18th Dec 2017

WTO, ITC launch cotton portal to enhance transparency

The World Trade Organisation (WTO) and the International Trade Centre ...

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Interviews View All

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


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