Zale said the filing was "a regrettable consequence" of an involuntary Chapter 11 proceeding against the company filed by four bondholders on Jan. 1.

The holding companies filed for the British equivalent of bankruptcy the same day last week as The News did here.

Both companies filed for Chapter 11 bankruptcy reorganization in 1993.

The lock out ultimately took its toll on Camillus as customers dried up and the company subsequently filed for bankruptcy and closed its doors on February 28, 2007.

Last week, a month after his death, his two main private companies filed for the British equivalent of bankruptcy protection.

Many executives escaped in much better shape, having received multimillion-dollar payments or sold many shares before the companies filed for bankruptcy and their share prices plummeted.

After both companies filed for bankruptcy in 1987, Certified continued operations with a court-approved president, Mr. Brodsky.

The Catalyst survey used data contained in the 1995 annual reports and proxy statements of the 500 largest companies filed through last February, then queried the companies.

Before the last company filed from the chamber the water was ankle deep, and that the men were nervous was quite evident.

But the increase has come in large part because many large companies filed for bankruptcy, a corporation spokeswoman said.