anderyn
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Schoolkids closing! Eeep! Alert!
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Sep 4 13:46 UTC 1998 |
NEWSFLASH!
Steve Bergman is declaring bankruptcy, and Schoolkids is closing
soon. Going out of business sale this weekend.
(Jim Leonard, who took over SKR Classical, may buy it out of
bankruptcy in a while.)
(This is from my friend whose husband co-owns the Observer.)
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anderyn
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response 3 of 64:
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Sep 4 19:27 UTC 1998 |
The owner (I talked to him when I pelted down there at lunch) has been
going through a bankruptcy and -- while I don't know the details -- has
apparently been screwed by some less than scrupulous
creditors/law-types. As well, he explained that they'd taken a big hit
after Borders moved in across the street, a good 25% of business, and
that if he'd realized it before, he might have stemmed the red ink, but
he didn't, and if he'd had more cash or something, again, the tide might
have turned, but it's too late now. I
They will be closing next Friday. There's a letter up at each cash
register explaining this. I am really bummed.
He says that it would be best if people came in and bought their
stuff now, because it will just all be liquidated by the bank. I
have no idea how the bank will dispose of it, but it doesn't seem
like it's a good day for Ann Arbor.
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