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

Sanjay K Jain, managing director, TT Ltd

Textiles | On 21st Sep 2017

TT’s Sanjay Jain elected new chairman of CITI

The Confederation of Indian Textile Industry (CITI), the apex body...

Textiles | On 21st Sep 2017

NRF urges US lawmakers to lower corporate tax rates

The National Retail Federation (NRF) has written to the US Senate...

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Top executives
Textile industry, India

The event should be organised every year

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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