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Crown Books Corp

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BUSINESS
February 13, 2001
* Crown Books Corp., the fourth-largest U.S. bookstore chain, filed for Chapter 11 bankruptcy protection for the second time in less than three years amid mounting losses, increasing competition and continuing computer problems. Crown, based in Largo, Md., completed its first bankruptcy reorganization in November 1999.
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BUSINESS
March 20, 2001
* Wendy's International Inc., the third-largest U.S. hamburger chain, said it sees fiscal first-quarter per-share earnings growing at 10%, below its full-year target of 12% to 15%. The company forecast earnings of about 33 cents a share, compared with 30 cents a year ago. Analysts had predicted 34 cents. The company said that bad weather and price cuts from competitors have hurt performance. * * Kelly Services Inc.
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BUSINESS
July 9, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
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.
BUSINESS
February 13, 2001
* Crown Books Corp., the fourth-largest U.S. bookstore chain, filed for Chapter 11 bankruptcy protection for the second time in less than three years amid mounting losses, increasing competition and continuing computer problems. Crown, based in Largo, Md., completed its first bankruptcy reorganization in November 1999.
BUSINESS
March 20, 2001
* Wendy's International Inc., the third-largest U.S. hamburger chain, said it sees fiscal first-quarter per-share earnings growing at 10%, below its full-year target of 12% to 15%. The company forecast earnings of about 33 cents a share, compared with 30 cents a year ago. Analysts had predicted 34 cents. The company said that bad weather and price cuts from competitors have hurt performance. * * Kelly Services Inc.
BUSINESS
August 19, 1998 | LESLIE EARNEST, TIMES STAFF WRITER
Crown Books Corp., which filed for bankruptcy about a month ago, said Tuesday that it will soon begin closing dozens of its stores, including 16 in Los Angeles and Orange 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.
BUSINESS
August 19, 1998 | LESLIE EARNEST, TIMES STAFF WRITER
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.
BUSINESS
August 21, 1993 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
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.
BUSINESS
January 31, 2001 | A Times Staff Writer
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.
BUSINESS
August 12, 1993 | From Times Staff and Wire Reports
Haft Family Legal Brawl Escalates Again: Robert Haft sued three companies controlled by his father, Herbert, seeking to recover millions of dollars in stock and long-term compensation he lost when the elder Haft fired him in June. Robert's breach-of-contract lawsuit, filed in a Delaware federal District Court, had none of the sensational charges of physical and financial abuse that were contained in the separation suit filed by his mother, Gloria, Tuesday in Washington.
BUSINESS
January 31, 2001 | A Times Staff Writer
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.
BUSINESS
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.
BUSINESS
August 19, 1998 | LESLIE EARNEST, TIMES STAFF WRITER
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.
BUSINESS
August 19, 1998 | LESLIE EARNEST, TIMES STAFF WRITER
Crown Books Corp., which filed for bankruptcy about a month ago, said Tuesday that it will soon begin closing dozens of its stores, including 16 in Los Angeles and Orange 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.
BUSINESS
July 9, 1998 | JAMES F. PELTZ, TIMES STAFF WRITER
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.
BUSINESS
September 5, 1994 | From the Washington Post
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.
BUSINESS
August 21, 1993 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
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.
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