(Filed Under Financial and General Interest News). Asia Creative Limited /Dora Lau, a prominent intimates producer, as well as several other apparel makers, were among the creditors with the largest unsecured claims as the retailer Destination Maternity filed for chapter 11 bankruptcy protection in late October.
Destination Maternity, which was operating 446 stores in the U.S., Canada and Puerto Rico as of August, reportedly plans to close about half those locations in a restructuring process that also includes seeking a buyer. According to the company it “filed to facilitate and continue a marketing process begun in early September that has already yielded indications of interest from several credible bidders.”
In the court filing, the company listed assets of $260,198,448 and total debts of $244,035,457. The firm’s 446 stores operate under three names: Motherhood Maternity, A Pea in the Pod and Destination Maternity. It also had, as of the filing, 491 leased departments located within department stores and baby specialty stores.
The claim by Asia Creative Limited/Dora Lau is listed at $441,081.56. Other industry claims included Pan Pacific Co. of South Korea at $3,827,090.27; INT S.A. of Guatemala at $1,490,150.28; Wiseknit Factory of Hong Kong at $1,132,813.79; Shanghai Silk Group Co, Ltd. (Hood) at $1,124,844.88; Doolim Corporation/Doolim Binh Chanh Factory of South Korea at $975,164.28; Union King Enterprises of Hong Kong at $551,916.23; Furi Design of China at $411,771.00; Parasuco USA at $396,060.62; Boutique Global of India at $308,189.25; Amw Vietnam Company Ltd. at $289,656.07; KSK Pvt Label of China at $265,673.30; and Orient Craft Limited of India at $226,254.71. — NM
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