Filene’s Basement and parent company Syms declared bankruptcy recently. The situation is so grim that Syms will shutter all 46 locations, and 2,500 employees will lose their jobs. The company, founded in 1959, was once an important discount retailer. According to the company, it has been suffering from competition as sales of big apparel brands have become concentrated at large retailers with hundreds of outlets.

Analysts predict that the holiday shopping season will be difficult for many retailers this year. The National Retail Federation reported that industry sales will be up only 2.8% to $465.6 billion, not enough to make up for three brutal years. Thousands of stores have been closed as a consequence of a drop in retail activity because of the recession. Stores closures for many retailers will continue.

Several of the largest retailers have consistently performed poorly between 2005 and 2010 for reasons that go beyond the recession. 24/7 Wall St. h

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Critics of a new intellectual property proposal circulating on Capitol Hill worry that it could inadvertently wreak havoc on legitimate e-commerce websites by suspending their ability to accept credit cards. Sponsors of HR 3261, the Stop Online Privacy Act, proposed new rules that would exempt credit card processors, ISPs, and other third-party technology vendors from copyright infringement lawsuits. In return, the bill states, merchant account services would have to suspend all payments to companies targeted by infringement complaints.

In some ways, the bill’s proposal resembles the actions taken by Visa and MasterCard against WikiLeaks. The online “leak” repository solicited credit card donations from readers until the payment processors suspended the organization’s merchant activity.

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When in need of a new or used car, money plays a key role. For starters, you will need to have money to pay for the car you are to buy. You will also need cash to settle insurance and any miscellaneous bills that may arise during the transaction. If you do not have enough cash in your account and you have a bad credit rating, you may be forced to seek help from bad credit auto loans. Working with a reliable lender is advisable as you will get value for your money.

Such lenders have professional services to offer. Good communication channels, reliable options and timely delivery of services characterize such kind of bad credit auto loans lenders. They understand that quality service delivery is important in winning their clients trust.

In addition, the lenders will always have a good working experience. Such lenders will have proof of business growth and development. For example, they will have different car brand options on offer for different kinds of clients.

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Michael Jackson’s former GM under Probation for Non-filing of Taxes

Michael Jackson’s former general manager, Raymone Bain was put under probation by a judge for failing to file her income tax for the years 2006 to 2008. US Magistrate judge Alan Kay sentenced Bain to five years’ probation and fined her $202,422 in back taxes to the IRS and the District of Columbia. In a tearful response to the charges against her, Bain claimed that her failure to file her taxes was due to being unable to cope with Jackson’s financial affairs and the ailing health of her mother.

Prosecutors said Bain earned $30,000 a month as general manager of Michael Jackson Co. and pressed for a deterrent sentence of one and a half years. Prosecu

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For people mired in debt, saving money sounds like an impossible goal. But a recent study found that keeping things simple and saving for one specific goal may be effective, reports MSNBC.com.

As Chicago bankruptcy lawyers reported recently, 1 in 4 consumers don’t have any emergency savings and couldn’t afford a $1,000 repair in a pinch. While that’s not shocking given our current economic climate, it is concerning. What it means is that people are likely living off their credit cards to get by, which is a dangerous situation to be in.

People are hurting financially and while savings may be a great thing to think about, those in debt may not be able to consider it. But imagine if there was a time during which you could store away money in savings, in the stock market or in retirement to plan for the future instead of wondering how to get by today?

That’s possible with a Chicago bankruptcy.

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Friendly’s Ice Cream Corp. recently filed for Chapter 11 bankruptcy.  While the restaurant chain will continue to operate through the bankruptcy, officials say they plan to close 63 of their least profitable locations.

The Massachusetts-based company listed between $100 and $500 million worth of assets and debts.  A Boca Raton-based creditor, Sun Capital, has plans to buyout Friendly’s.

Friendly’s has close to 500 locations across the country and employs around 10,000 people.  Chief Executive Harsha V. Agadi stated, “We have made a lot of progress, but our company continued to face significant financial challenges.  This was exacerbated by the the weak economy and rapidly rising commodity costs that have impacted the entire restaurant industry.”

To learn more about the Chapter 11 reorganization process, contact the West Palm Beach Chapter 11 bankruptcy attorneys of Eric N. Klein & Associates, P.A. by calling 561-353-2800 today.

Sent From Aaron Waklings Iphone:

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