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.
CALIFORNIA | LOCAL
May 10, 1993 |
The "foodski, funski and brewski" are gone-ski. Gorky's is kaput. Twelve years after downtown's best-known bohemian hangout opened in the name of cheap java for the working class, Gorky's Cafe and Russian Brewery has quietly shut down, leaving nothing but the coffeepot and a bill for back rent. "So Long, L.A.," reads the sign on the window. "They done cleared out," nodded a panhandler in a nearby cardboard box.
October 6, 2003 |
A truck rolled out of an industrial strip mall near the 10 Freeway in Santa Monica, hauling the largest shipment ever to leave tiny Balance Pharmaceuticals Inc.: seven chemical drums containing thousands of doses of an investigational cancer-prevention drug called Libra. It took Balance 11 years and nearly $25 million to reach that day -- its last in business. The drug stockpile that left the warehouse last month didn't go to patients -- it went to an incinerator.
CALIFORNIA | LOCAL
July 30, 2003 |
Granada Hills Community Hospital, a fixture in the San Fernando Valley since 1965, is closing its doors. Struggling with its own poor financial health, the hospital filed for bankruptcy in November. Last week, the nonprofit organization couldn't pay its staff members. Amid accusations of mismanagement and possible financial misconduct, the hospital was ordered by a Bankruptcy Court judge Monday to "wind down" its activities.
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.
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.
July 26, 2006 |
TWO of Los Angeles' quintessential restaurants will soon disappear off the city's dining map. After 29 years of serving French haute cuisine to Angelenos, L'Orangerie "will be no more," says owner Gerard Ferry. He has sold the restaurant -- a package deal that includes everything in the restaurant, including the well-stocked wine cellar, to Nobu Matsuhisa and his original partner in the Nobu chain of restaurants, Robert De Niro, for an undisclosed price.
January 30, 2003 |
Mr. Rags Acquisition Inc., a clothing chain that sells surf, skate and urban brands to teens and young adults, has filed for Chapter 11 bankruptcy protection. The Long Beach-based chain, which was purchased eight months ago from teen accessories retailer Claire's Stores Inc., has struggled with a wide range of troubles, including weak sales, high rents and poorly located stores, President Gary Schettino said. Mr.
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.