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The Parent Company
The Parent Company Voluntarily Petitions for Reorganization Bankruptcy Protection
January 18th, 2009
The Parent Company (NASDAQ:KIDS), announced that it and nine of its subsidiaries have filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code before the United States Bankruptcy Court in Wilmington, Delaware. "This action is an unfortunate but necessary and responsible step to preserve the company's value for our stakeholders in light of the ongoing challenging retail environment," said Michael Wagner, CEO of The Parent Company. The company has engaged the investment banking firm Oppenheimer & Co. to explore strategic alternatives, including a sale of some or all of the company's businesses. The company's...
Source: Pharma Investments, Ventures & Law Weekly (2009-01-18)
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