November 21, 1990 |
Laventhol & Horwath fired most of its 3,400 employees and confirmed Tuesday that it will file for bankruptcy court protection and dissolve the nation's seventh-largest accounting firm. Now begins a legal headache that is sure to last for years, as courts determine the depth of the firm's problems, for which all its partners and even some retired partners potentially are liable.
December 18, 1991 |
Andy Warhol should have said something about Los Angeles nightclubs and their 15 minutes in the spotlight. The chic China Club in Hollywood, about 1 1/2 years old, may be seeing its last days this week. General manager Dominick J.
CALIFORNIA | LOCAL
October 3, 1994 |
Nudie's Rodeo Tailors Inc., famed clothier to Western movie stars and country singers, is now a part of history. The 6,600-square-foot store, which officially closed Friday after 47 years of dressing some of the best-known stars in Hollywood and Nashville, invited old and new customers to bid farewell to the legendary retailer Sunday afternoon. "Isn't there anything left to buy?" asked Ellen Lotterman of North Hollywood as she peeked into the store before the party started.
March 14, 1991 |
Buffums, a Southern California department store chain that opened as a dry goods shop 87 years ago, announced Wednesday that it will close its doors for good at the end of May. The widely anticipated shutdown will eliminate the jobs of 1,100 full-time employees and 300 part-time workers. The company's 16 stores extend from Glendale to San Diego; its headquarters and distribution center are in Long Beach. Buffums' closing follows a long-term decline by the retailer, leading to losses of $4.
November 19, 1997 |
After spending nearly 5 years and $24 million to develop an engine technology that it promised would revolutionize the auto industry, Rosen Motors will close its doors on Friday because it couldn't persuade any major car manufacturers to buy into its vision. Launched in 1993 by Harold Rosen, a renowned aerospace engineer, and his brother Ben, a legendary venture capitalist and chairman of Compaq Computer Corp., Rosen Motors aimed to develop a turbine-flywheel powertrain for passenger cars.
September 24, 1997 |
Nurseryman Ric Dykzeul stands at the entrance of Palos Verdes Begonia Farm, reflecting on the landmark Torrance nursery's announcement that it will be closing its doors for good in early October. "People walk around red-eyed while they're shopping for their last plants," observes the soft-spoken Dykzeul. "They call on the phone saying, 'How can you do this to me?' One woman told me she'd been buying plants here since she was a little girl. Her grandmother used to bring her here."
January 30, 1991 |
Jurgensen's, the upscale gourmet grocery chain whose stores were a fixture in many tony neighborhoods throughout California, has closed its Beverly Hills store to concentrate its energy and capital on building a Pasadena headquarters store, company officials said Tuesday. "The sales in Pasadena have tripled in the last three years, while the Beverly Hills sales were way off what we expected," said Kenneth McCormick, chairman of Ojai Capital, the partnership that owns the Jurgensen's markets.
November 19, 1994 |
R. H. Macy & Co. went ahead Friday with plans to discontinue its financially troubled I. Magnin retail operations, despite an offer by a grandson of the chain's founder to buy the 12 remaining Magnin stores. As expected, Macy announced it will phase out the tradition-rich Magnin retailing name while converting four existing Magnin sites--including the Woodland Hills store--into different specialty stores. Liquidation sales were set for the Newport Beach store and seven other sites.
December 16, 1990 |
Ailing P-I-E International announced Saturday that it will shut down the nationwide trucking corporation within three weeks and begin liquidating assets. U.S. Bankruptcy Judge George L. Proctor approved the plan in a brief hearing after P-I-E's attorney said a weak economy and less-than-projected revenues over the last five weeks made the outlook bleak. "There was no light at the end of the tunnel," attorney Steve Busey said.
September 13, 1991 |
First Interstate Bancorp, feeling the effects of the soft California economy and a continuing slide in the state's real estate market, said Thursday that it is cutting its work force by 3,500, with as many as half of the layoffs expected in California. The layoffs are part of a companywide restructuring that will result in a $200-million loss in the third quarter. The bank will take a $90-million third-quarter charge, mostly for severance pay.