Retailer Anchor Blue Returns To Ch. 11

Law360, New York (January 11, 2011, 6:26 PM EST) -- Following a 2009 restructuring, clothing retailer Anchor Blue Inc. on Tuesday again turned to Chapter 11 bankruptcy protection, this time to carry out an orderly liquidation of its 117 stores.

Anchor Blue Holdings Corp. filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware after its chief investor, private equity firm Sun Capital Partners, refused to pump any more money into the foundering retailer.

Anchor Blue has $24.7 million in assets and $38.5 million in liabilities, according to a filing by Anchor...
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