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March 28, 2011

Harry & David Files for Bankruptcy With Agreement to Cut Debt

"Harry & David Holdings Inc., the Oregon-based gift-box retailer that began selling fruit by mail in the 1930s, filed for bankruptcy protection after reaching an agreement with lenders to trim debt that includes almost $200 million in bonds.

The company, owned by investment funds controlled by Wasserstein & Co., listed assets and debt of as much as $500 million each in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Wilmington, Delaware."

Read more here.

March 28, 2011 in Current Affairs | Permalink

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