The Wheeling-based Wickes Furniture Co. announced Tuesday it has abandoned hopes of reorganization and agreed to put itself on the bankruptcy auction block before the end of the month, according to court papers.
Citing ''operating losses and liquidity concerns,'' Wickes said Monday it would seek bankruptcy court approval to sell all its assets by Feb. 29.
The company said it would be sold either as an operating business or piecemeal in a liquidation.
Wickes Furniture stores are currently selling merchandise in the store and in the warehouse, but taking only credit-card payments. Back orders may be subject to a refund. Merchandise was still being delivered and serviced on Tuesday, a service representative said.
No comments:
Post a Comment