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BRIEFLY

Retailing

August 07, 1996|Times Staff and Wire Reports

Clothing Chain Files for Bankruptcy: Kuppenheimer Manufacturing Co. filed for Chapter 11 protection in U.S. Bankruptcy Court in Delaware in what its owners said was a needed step to rescue the 118-year-old men's clothing chain. Kupp Acquisition Corp. and its subsidiaries listed assets of $42 million and debts of $43.6 million. The joint venture said it closed Kuppenheimer's Glen Rock, N.J., office and consolidated its headquarters at the chain's Atlanta office. Stuart Fetter, chief executive of the Silverman Group, one of the joint venture partners, said the company is cutting overhead costs and has begun to turn around its finances.

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