Daffy's Gets Approval For Ch. 11 Plan

Law360, New York (April 2, 2013, 7:43 PM EDT) -- Now that a New York bankruptcy judge on Tuesday approved the Chapter 11 liquidation plan for beleaguered clothing retailer Daffy's Inc, the company will be able to move forward and pay all of its creditors in full as its makes its way out of bankruptcy.

Daffy's filed for bankruptcy protection in August after cracking under the strain of the economic downturn and amid increased competition from other store-based and online discount fashion retailers, and has been hammering out details of the plan ever since.

The blow to...
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