Low Consumer Spending Sinks Connaught Group Into Ch. 11
Though exact totals were not immediately available, the Carlisle Collection creator reported it had $10 million to $50 million in assets and $50 million and $100 million in liabilities, according to its Chapter 11 petition.
“As sales decreased, [the] debtors have encountered a substantial decrease in cash flow, causing their expenses to outweigh their revenues. Losses from declining sales in a weak economic climate were...
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