Wholesalers and retailers haven't filed against us for loss of business yet, but if this goes on long enough I guarantee you they will.
Numerous retailers, including the McCrory's discount chain, Herman's sporting goods, and National Brands Outlet men's clothing, filed for bankruptcy and vacated thousands of square feet of retail space.
Many have delayed shipments to Macy because they were afraid they would not get paid if the retailer filed for bankruptcy.
On Tuesday, when the retailer filed for protection from creditors under Federal bankruptcy laws, the company said that the stores it would close would be mainly those farthest from New York City.
At least eight major retailers filed for Chapter 11 bankruptcy protection this year.
Suppliers, whose warehouses are holding back goods from the company until its financial condition becomes more certain, said yesterday that they wished the retailer would file for bankruptcy protection.
When other retailers, like Korvettes Inc. and J. W. Mays, filed for Chapter 11 protection, operations were substantially scaled back to reduce costs, and many employees were let go.
By April 1997, nearly 14 months after Home Depot had received initial approval for the store complex from Port Chester, the retailer filed two lawsuits.
Although the retailer filed for bankruptcy protection earlier this year and is closing some stores, Ms. Stewart has said that her contract guarantees her revenue growth from Kmart, no matter what.
In addition, three other large retailers, Caldor, Bradlees and Jamesway, have all filed since June.