Giftware Retailer Lenox Group Files For Ch. 11

Law360, New York (November 24, 2008, 12:00 AM EST) -- Another retailer fell victim to the global economic crisis when giftware and collectibles company Lenox Group Inc. filed for Chapter 11 bankruptcy protection, citing the impact of the credit squeeze and excessive debt levels incurred by a 2005 purchase of a subsidiary.

The company filed its bankruptcy petition Sunday in the U.S. Bankruptcy Court for the Southern District of New York, listing total assets at $264 million and total liabilities at $238 million. It will conduct its ordinary operations without interruption as it pursues a sale...
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