Lechters Inc., the largest U.S. specialty housewares retailer, asked a bankruptcy judge for permission to find a buyer for all the company's assets or close its 325 stores and liquidate.
Competition from larger rivals such as Wal-Mart Stores Inc. forced Harrison, N.J.-based Lechters to seek bankruptcy protection in May. The company listed $128.9 million in assets and $110.9 million in debts in Chapter 11 papers filed in Bankruptcy Court in Manhattan.
