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current news

Frederick’s Creditor List: 40 Lingerie Firms

(Filed Under Financial and General Interest News). When Frederick’s of Hollywood filed for bankruptcy in mid April it listed at least 40 creditors from the intimate apparel industry among its total 6500 or so creditors. Others owed money range from shopping mall operators to banks and former employees.

Thus far, court filings have revealed the actual amounts owed to only a handful of the lingerie firms (BODY, April 21, 2015). But an examination of the Consolidated List of All Creditors, filed with the court, reveals the names of many additional lingerie firms, without specifying the amounts owed.

Companies on the Frederick’s creditors list include: American Intimates, LLC; Ana Grant; Angel Intimates; Ascension Lingerie & Swimsuit, Black Fuchsia (Just One), Carrie Amber Intimates, Fashion Forms (Ce Soir Lingerie), Dolce Vita Intimates; Dreamgirl (Lovin Enterprises); Felina/Shandiz Lingerie; International Intimates; J.T. Intimates; Jolie Intimates; JL Intimates, Longray Apparel; Longray Intimates; Montelle Intimates; Mother Plucker Feather Co.; Movie Star (Dolce Vita); National Corset (Shirley of Hollywood); OHS Clothing Corp; PAE Inc.; Planet Lingerie; Q-T Foundations; Russell Newman; Sky Hosiery; Spirite Industries; Starline LLC; Sweet Intimates; Triumph Hosiery; Vandale; Vertex; and Wonder-Form Imports. Also include on the list is Thomas Rende, the former CFO and Thomas Lynch, the former chairman and CEO.

When Frederick’s filed this list in mid April it noted that “Certain of the creditors listed may not hold outstanding claims against any of the debtors as of the commencement date and, therefore, may not be creditors for purposes of these cases.”

The list of Frederick’s 30 largest creditors, as of April 15, showed that Longray Intimates (a firm affiliated with Lingerie International Co Ltd. of China) was owed $2,366,126; Montelle was owed $1,313,319; National Corset (Shirley of Hollywood) was owed $575,304; and Ascension Lingerie & Swimsuit was owed $412,416. Lynch, who left the company last summer, was listed as a creditor for $1,214,141, the amount related to his employment contract.

In all, Frederick’s estimated is had total assets of about $36.5 million and liabilities of about $106 million.

more Financial and General Interest News >>

Published 04-30-2015 by Nick Monjo

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