January 31, 2001 |
Discount retailer Crown Books said it will close 28 underperforming stores as part of the company's strategy to return to profitability. The company said it will have 62 stores after the closures. "This past Christmas season was difficult for the retailing sector, including the book industry," said Charles R. Cumello, Crown's president and chief executive. Crown's same-store sales for November and December were down 3%. About 450 full- and part-time employees will be affected by the closures.
August 25, 1998
Crown Books, the beleaguered discount book chain that will close nearly all of its San Fernando Valley outlets within the next few weeks, may be back on the scene as early as next year, a company spokesman said. Steve Pate, vice president of operations at the Landover, Md.-based chain, said that once the company sheds scores of unprofitable stores, including eight in the Valley, Santa Clarita and Thousand Oaks, it will begin opening stores again.
August 19, 1998 |
Crown Books Corp., which filed for bankruptcy about a month ago, said Tuesday it will soon begin closing dozens of bookstores, including 16 in Orange and Los Angeles counties. The stores will be shuttered as soon as Crown gains permission from the bankruptcy judge, said Steve Pate, vice president of operations for the Landover, Md.-based company. "We will close the doors and then return the merchandise to the vendors," he said.
July 9, 1998 |
Crown Books Corp., a bookstore chain hobbled by slowing sales and a cash drain, said Wednesday that it will likely reorganize under federal bankruptcy laws. Plans by the Landover, Md.-based company to file under Chapter 11 of the U.S. Bankruptcy Code, which could happen within days, was not a surprise. Crown said two months ago that it was in danger of failing and might seek bankruptcy protection.
September 5, 1994 |
Herbert Haft was unexpectedly deposed by his younger son Ronald this weekend as chairman of a real estate company he founded decades ago. A onetime ally with his father against his elder brother Robert, Ronald Haft replaced his father Saturday, the company said. On Friday, Ronald's lawyers announced that they expected his father to try to replace him as president of the Crown Books chain at a board meeting Wednesday.
August 21, 1993 |
The Haft family feud spilled into divorce court Friday, with lawyers for Herbert and Gloria Haft volleying accusations and countercharges about the couple who created the vast retailing empire that includes Crown Books and Trak Auto. Herbert says his wife filed for divorce as just another tactic in her fight to force Herbert to give control of the business to their oldest son, Robert.