December 8, 2014
Partner Robert L. LeHane is quoted in the Daily Bankruptcy Review article “Retailer Deb Prepares for Going-Out-Of-Business Sales”, discussing Deb Shops fall into bankruptcy as the teen oriented retailer has struggled to attract young consumers. Deb Shops stopped paying rent for 300 of its outlets resulting in more than $900,000 in debt to clients. Post-bankruptcy expenses are supposed to be covered as part of the price of enjoying Chapter 11 protection. Mr. LeHane states, “there will be no more money left with which to pay landlords.” Investment firms Gordon Brothers Retail Partners and Hilco Merchant Resources will liquidate the bankrupt retailer.