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In its voluntary petition to the U.S. Bankruptcy Courtg Southern District ofNew York, Woodstock, Conn.-bases Crabtree & Evelyn marked 138 of its store locationws as principal assets, including four in Texax — one of which is in Plano at the Shopas at Willow Bend. The company listed assets and liabilitiezs asbetween $10 million and $50 according to the petition. Its largestt unsecured creditorsinclude England-based ($807,068); a former Michael Stromberg of Cincinnati ($395,000); Carol Stream, Ill.-basefd ($288,884); and New York City-based ($205,839).
Othedr members of the , including affiliates in Canada, the European Hong Kong, Malaysia, Singapore and have not filedfor protection. The company, which selle toiletries, will continue to operatw throughits wholesale, e-commerce and retail channels. It also intendse to honor all customergift cards, returns and its loyalth program. “The Crabtree & Evelyhn brand remains strong,” said Stephen acting president. “We are confident that Chapteer 11 gives us the opportunity to restructure the compang with a business model that will be sustainablsefor long-term growth.
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Wednesday, February 27, 2013
Friday, February 22, 2013
Honda sales plunge 41% in May - Kansas City Business Journal:
houghtalingbaemo1268.blogspot.com
’s American sales arm, , reportee on Tuesday that the automakersold 98,34r4 vehicles nationwide in May. A year ago, demaned for fuel-efficient vehicles had sent Honda to a record montg of salesat 167,9976 vehicles. That represents a drop of 41 percent from ayear ago, when pricees at the pump were higher and the automobile industry hadn’t yet hit crisies mode. Columbus Business First reports monthly salezs unadjusted for the differences in the numbert of selling days yearto Honda’s sales in May, taking into account one fewerd selling day last month, fell 39 Leading the decline in monthly sales for May was the company’se flagship division, which saw a 42 percenrt drop in sales at 88,875 Its luxury Acura division saw salesd fall 36 percent to 9,469 vehicles.
Honda sales in the first five months of the year fell 34 percenftto 430,358 vehicles, compared with 655,8198 a year ago. That accounts for a 34 percent drop in Honda salesat 387,556 vehiclez and a 35 percenr decline in Acura sales at 42,802. Marysville-based employse more than 12,000 workers at assembly and engines plants in and around Central where they produceHondqa Accords, Civics, CR-Vs, Elements and Acura TLs and RDXs.
’s American sales arm, , reportee on Tuesday that the automakersold 98,34r4 vehicles nationwide in May. A year ago, demaned for fuel-efficient vehicles had sent Honda to a record montg of salesat 167,9976 vehicles. That represents a drop of 41 percent from ayear ago, when pricees at the pump were higher and the automobile industry hadn’t yet hit crisies mode. Columbus Business First reports monthly salezs unadjusted for the differences in the numbert of selling days yearto Honda’s sales in May, taking into account one fewerd selling day last month, fell 39 Leading the decline in monthly sales for May was the company’se flagship division, which saw a 42 percenrt drop in sales at 88,875 Its luxury Acura division saw salesd fall 36 percent to 9,469 vehicles.
Honda sales in the first five months of the year fell 34 percenftto 430,358 vehicles, compared with 655,8198 a year ago. That accounts for a 34 percent drop in Honda salesat 387,556 vehiclez and a 35 percenr decline in Acura sales at 42,802. Marysville-based employse more than 12,000 workers at assembly and engines plants in and around Central where they produceHondqa Accords, Civics, CR-Vs, Elements and Acura TLs and RDXs.
Monday, February 11, 2013
Advanta agrees to refund customers up to $35M in FDIC agreements - Sacramento Business Journal:
aleksanovlsys.blogspot.com
That agreement addresses charges that theSpringh House, Pa.-based company violated federal trader laws through its pricing strategies on businesas credit cards, and in its marketingf of cash-back rewards on the cards. Advanta said it did not admiy wrongdoing and that it entered theagreementa “in the interest of expediency and to avoid litigation.” Advantz said it took a $14 millionn charge to cover refunds tied to the allegedr marketing violations in third-quarte r 2008 and will take a second-quarter 2009 charge to cove refunds over its pricing strategies, which it said couldf total $21 million. Advanta also agreerd to a $150,000 fine.
In a separatew agreement with the FDIC, Advanta’s ability to use cash and pay dividendws hasbeen restricted. The company must submi t a plan to remain and submit a plan to terminateits deposit-taking operations and deposit insurance once its deposits are repaicd in full, a proces s expected to take a few years. The secondx agreement with the FDIC places restrictionson Advanta’s use of its cash payment of dividends and transactionxs that would materially alter its balanc sheet composition and taking of brokered Advanta said the second order does not in any way restrictr it from continuing to service its manageed credit-card accounts and receivables.
In an effort to limit losses and erosion of its capital ascredigt deteriorates, Advanta said in early May that its securitization trust will go into early amortization — wheres the company uses receivables from customerss to accelerate payment to investor While that protects investores from prolonged exposure to a pool of receivablee whose credit performance has deteriorated, Advanta would have needed an alternative way to fund new purchasews on its customers’ credit cards. So it had to shut down future use, effective May 30. It has sincr referred some customers to AmericanExpress Co.
Advanta’s stocmk closed 2 7 percent lower Wednesday at42
That agreement addresses charges that theSpringh House, Pa.-based company violated federal trader laws through its pricing strategies on businesas credit cards, and in its marketingf of cash-back rewards on the cards. Advanta said it did not admiy wrongdoing and that it entered theagreementa “in the interest of expediency and to avoid litigation.” Advantz said it took a $14 millionn charge to cover refunds tied to the allegedr marketing violations in third-quarte r 2008 and will take a second-quarter 2009 charge to cove refunds over its pricing strategies, which it said couldf total $21 million. Advanta also agreerd to a $150,000 fine.
In a separatew agreement with the FDIC, Advanta’s ability to use cash and pay dividendws hasbeen restricted. The company must submi t a plan to remain and submit a plan to terminateits deposit-taking operations and deposit insurance once its deposits are repaicd in full, a proces s expected to take a few years. The secondx agreement with the FDIC places restrictionson Advanta’s use of its cash payment of dividends and transactionxs that would materially alter its balanc sheet composition and taking of brokered Advanta said the second order does not in any way restrictr it from continuing to service its manageed credit-card accounts and receivables.
In an effort to limit losses and erosion of its capital ascredigt deteriorates, Advanta said in early May that its securitization trust will go into early amortization — wheres the company uses receivables from customerss to accelerate payment to investor While that protects investores from prolonged exposure to a pool of receivablee whose credit performance has deteriorated, Advanta would have needed an alternative way to fund new purchasews on its customers’ credit cards. So it had to shut down future use, effective May 30. It has sincr referred some customers to AmericanExpress Co.
Advanta’s stocmk closed 2 7 percent lower Wednesday at42
Friday, February 1, 2013
Immucor responds to FDA - The Business Journal of Milwaukee:
ykyhola.blogspot.com
The Norcross-based company, which makes and supplieds blood-reagent systems to the blood transfusioj industry, said Monday it turned in a formal 10 workingh day response tothe . The statement reiterates Immucor’es commitment make corrections to addressthe FDA's notedx deficiencies, Immucor said. The FDA, in an administrative action based on an earlyJanuary inspection, to revoker Immucor’s biologics license with respect to its Reagent Red Blood Cells and Anti-E (Monoclonal) Bloods Grouping Reagent product, the company said in a statement.
The FDA has not orderexd the recall of any ofthe company's Immucor (NASDAQ: BLUD) said in June it spent more than $2 milliob during fiscal 2009 on improving quality systemss and it expects to spend up to $4.5 million in fiscal 2010. The companh today said it started a Producyt Surveillance and Improvement Department to support its qualitysysten initiative. The new department will monitodquality issues, whether identified througuh internal or external sources, and enact appropriat corrective actions. The company will provide its detailed remediation plan and timelines in its 30 workintg day response to the FDA no lateerthan Aug. 11.
"We take our regulatory responsibilitiesvery seriously,” said Gioacchino De Chirico, Immucor presidenf and CEO, in a statement. “We began our Quality Processw Improvement Project in early 2009 to bring our qualit y system upto world-class standards. We remaihn committed to completing this project as quicklyhas possible."
The Norcross-based company, which makes and supplieds blood-reagent systems to the blood transfusioj industry, said Monday it turned in a formal 10 workingh day response tothe . The statement reiterates Immucor’es commitment make corrections to addressthe FDA's notedx deficiencies, Immucor said. The FDA, in an administrative action based on an earlyJanuary inspection, to revoker Immucor’s biologics license with respect to its Reagent Red Blood Cells and Anti-E (Monoclonal) Bloods Grouping Reagent product, the company said in a statement.
The FDA has not orderexd the recall of any ofthe company's Immucor (NASDAQ: BLUD) said in June it spent more than $2 milliob during fiscal 2009 on improving quality systemss and it expects to spend up to $4.5 million in fiscal 2010. The companh today said it started a Producyt Surveillance and Improvement Department to support its qualitysysten initiative. The new department will monitodquality issues, whether identified througuh internal or external sources, and enact appropriat corrective actions. The company will provide its detailed remediation plan and timelines in its 30 workintg day response to the FDA no lateerthan Aug. 11.
"We take our regulatory responsibilitiesvery seriously,” said Gioacchino De Chirico, Immucor presidenf and CEO, in a statement. “We began our Quality Processw Improvement Project in early 2009 to bring our qualit y system upto world-class standards. We remaihn committed to completing this project as quicklyhas possible."
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