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Liquidation

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BUSINESS
April 12, 1992 | From Associated Press
From a British schoolteacher who lost his life savings to a Beverly Hills millionaire who fears he may lose his home, claims are rolling in for the millions forfeited by the Bank of Credit and Commerce International. Gerald Bolton, a Briton living in Qatar, says he had about $100,000 in a savings account at BCCI's home branch in Luxembourg. "This humble petitioner . . . pleads with the court to enable me to retrieve the money I have deposited," Bolton wrote.
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BUSINESS
April 11, 2014 | By Tiffany Hsu
Coldwater Creek Inc., a women's wear retailer with hundreds of stores nationwide, said in bankruptcy filings that it plans to start liquidating the business with deep discounts pegged to Mother's Day. The Sandpoint, Idaho, company, which started with a catalog model in 1984, now has 334 retail stores, 31 outlet locations and seven day spas. California has 27 Coldwater Creek stores -- more than any other state except Texas. In a Chapter 11 filing in federal bankruptcy court in Delaware, Coldwater Creek listed $278.5 million in assets and $361.3 million in debt.
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BUSINESS
December 15, 1993 | DEAN TAKAHASHI, TIMES STAFF WRITER
Robert A. Ferrante, a once-flamboyant developer who was acquitted last year of criminal charges in one of the FBI's top-priority bank fraud cases, filed for bankruptcy Monday. Ferrante of Newport Beach listed debts of $24.2 million and assets of only $777,300 in his Chapter 7 filing in U.S. Bankruptcy Court in Santa Ana. A Chapter 7 filing seeks a court-monitored liquidation of assets to pay creditors.
SCIENCE
April 4, 2014 | By Amina Khan
Scientists have found strong evidence of a watery sea beneath the icy surface of Enceladus, a moon that orbits Saturn and squirts jets of water vapor into one of the planet's rings. The dramatic jets, which emerge from cracks in the moon's surface, have long tantalized scientists looking for signs of liquid water elsewhere in the solar system. Now, using gravitational data from NASA's Cassini spacecraft, the researchers have determined that Enceladus hosts a vast southern sea roughly the size of Lake Superior.
BUSINESS
July 22, 2011 | By Andrew Khouri, Los Angeles Times
Giant bookseller Borders Group Inc. will begin liquidating its 399 stores nationwide, including huge sales at its 18 remaining stores in Southern California. Books, DVDs and furniture valued at more than $700 million will be discounted up to 40% starting Friday, liquidators said. The sales are expected to wrap up in September. Up to 10,700 chain employees nationwide, including 524 in Southern California, will lose their jobs after liquidation. Still up in the air is a possible sale of up to 35 locations to an Alabama company.
BUSINESS
February 13, 1990 | From Associated Press
Trans Ocean Airways, an international air charter service based in New Iberia, has fled for Chapter 7 bankruptcy protection and was ordered to liquidate all its assets. Bankruptcy Judge Donald Boe of Opelousas, La., ordered liquidation after owners of three planes petitioned the court to terminate their contract with Trans Ocean after Trans Ocean allegedly defaulted on lease payments.
BUSINESS
April 11, 2014 | By Tiffany Hsu
Coldwater Creek Inc., a women's wear retailer with hundreds of stores nationwide, said in bankruptcy filings that it plans to start liquidating the business with deep discounts pegged to Mother's Day. The Sandpoint, Idaho, company, which started with a catalog model in 1984, now has 334 retail stores, 31 outlet locations and seven day spas. California has 27 Coldwater Creek stores -- more than any other state except Texas. In a Chapter 11 filing in federal bankruptcy court in Delaware, Coldwater Creek listed $278.5 million in assets and $361.3 million in debt.
BUSINESS
November 21, 2012 | By Tiffany Hsu
Hostess Brands Inc. will start selling off the rights to Twinkies, Ding Dongs and other baked brands after a federal bankruptcy judge on Wednesday approved its plan for an “orderly wind-down.” The company will also start shrinking its employee head count to 3,200 workers from 18,500, the 82-year-old pastry maker said. Judge Robert Drain of the U.S. Bankruptcy Court in the Southern District of New York gave Hostess the go-ahead to start fielding bidders for its assets, the company said.
BUSINESS
February 8, 1986 | LESLIE BERKMAN, Times Staff Writer
Financially troubled Equidon Contractors, attempting to repel an onslaught of mechanics liens and lawsuits, filed for liquidation Friday in U.S. Bankruptcy Court in Santa Ana. The assets and debts of the Irvine-based construction company were not stated in the court papers. However, Ken Klee, attorney for John Parker, the sole owner and shareholder of the company, said that its debts surpass its assets by "at least $3 million."
BUSINESS
September 28, 2001 | Bloomberg News
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.
NEWS
February 4, 2014 | By Mary Forgione, Los Angeles Times Daily Deal and Travel Blogger
Every flier knows the 3-1-1 drill for carry-on bags, but what about items like duty-free liquor? The Transportation Security Administration has started to allow international passengers with connecting flights to keep duty-free liquids -- more than the allowed 3.4 ounces -- with them on board, according to the TSA's website. The rule, which went into effect last Friday, applies only to passengers returning to the U.S. and international travelers who have connecting flights. For those travelers, liquids that exceed 3.4 ounces will be allowed in carry-on bags as long as they are placed in "secure, tamper-evident bags," the agency's website says.
BUSINESS
December 17, 2013 | By Tiffany Hsu
Loehmann's, the Bronx-based discount retailer that has been around for nearly a century, has filed for the third time for bankruptcy protection and plans to shut down its business. In a Chapter 11 filing in federal Bankruptcy Court in Manhattan, the chain said it will sell its assets - which include 39 stores in 11 states and Washington, D.C. - at a Dec. 30 auction. A collective that includes SB Capital Group, Tiger Capital Group and A&G Realty Partners has agreed to put in the first bid, which includes $19 million in cash.
BUSINESS
November 10, 2013 | By Hugo Martín
Are you tired of having airport security screeners toss away your bottles of water, shampoo or lotion? Change is on the way in some parts of the world. Battelle, a nonprofit research and development organization in Ohio, has built a screening device that London's Heathrow Airport began installing last week to test liquids carried by passengers onto planes. Heathrow Airport screeners will begin using the device in January, when the European Union will start allowing some liquids, aerosols and gels onto planes under a phased timetable.
CALIFORNIA | LOCAL
September 11, 2013 | By Steve Chawkins
With one stroke, entrepreneur Robert R. Taylor made a fortune, changed the way America washed up and doomed the bathroom soap dish to virtual obsolescence. It was Taylor who turned hand soap from a slippery lump to a dab from a pump. Taylor, who created Softsoap, the first mass-marketed liquid soap pumped from a plastic bottle, died of cancer Aug. 29 in Newport Beach, family members said. He was 77. Softsoap was one of his many successful ventures, which included Obsession, a fragrance he developed with Calvin Klein and promoted in steamy ads that stimulated both sales and controversy.
NEWS
August 23, 2013 | By Christopher Knight, Los Angeles Times Art Critic
This post has been updated. In the short, high-definition film “Liquid Assets” by Israeli-born, London-based artist Ori Gersht, a rippling gray blob of molten metal that looks rather like mercury rolls into close-up view against a mottled gray field. Slowly it takes the loose shape of a disk. An electronic soundtrack rumbles with foreboding as the disk's animated surface boils like a roiling, storm-tossed sea. Amid the shifting waves, the suggestion of a face in profile looking to the right flickers in and out of view.
ENTERTAINMENT
May 24, 2013 | By Sean O'Connell
A frosted door, etched "Est 1886," greets visitors who wind past a small, canopied patio behind Pasadena's Raymond restaurant. That door was not there 127 years ago. Nor was the patio. Nor the restaurant. Instead, the year refers to the first incarnation of the famed Raymond Hotel, straddling the hilltop border of Pasadena and South Pasadena and luring wealthy visitors with warm hospitality and warmer winters. Those carefree days of orange-scented glamour are gone, but a little of it remains at Bar 1886, where a small cocktail oasis offers labor-intensive libations and a crowd more resembling the low-lighted haunts of downtown than the sleepy, suburban sidewalks of Pasadena.
BUSINESS
April 8, 1989 | MARY ANN GALANTE, Times Staff Writer
The long-promised liquidation sale at Chandler's furnitures stores in Santa Ana and Laguna Hills did not take place as planned Friday. With thermometers hitting the 90s, a small crowd of customers waited patiently--some for hours--in front of the stores. Some, like Patty Coleman of Irvine, were just hunting for bargains. "They have some beautiful things. I thought maybe I could pick something up," Coleman said. Others, like Kaye Kaufman of Irvine, turned up in hopes that they might get some preference over the general public because they have already paid for merchandise that has not been delivered.
BUSINESS
April 1, 1989 | KEN YAMADA, Times Staff Writer
Chandler's Furniture Co.'s largest creditor said Friday that it expects to hold an inventory liquidation sale at the firm's two showrooms next weekend. Chandler's, which was founded in the 1870s, closed unexpectedly last month under pressure from creditors. Previously, the company had posted signs at its stores saying the sale of inventory would begin by April 1.
FOOD
April 13, 2013 | By S. Irene Virbila, Los Angeles Times
  For anyone who loves a leaner, more elegant style of Chardonnay, this is the one. Liquid Farm proprietors Nikki and Jeff Nelson are going for Chardonnay with less oak influence and lower alcohol. Bingo. That's a recipe for a food-friendly wine, and with the help of winemakers Brandon Sparks-Gillis and John Dragonette of Dragonette Cellars, they're making this terrific Chardonnay from Santa Rita Hills grapes. I love its minerality, the sharp, fresh scent of citrus and, well, grape that comes through loud and clear.
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