Wednesday, August 12, 2009

Weisman's goes bankrupt

From Crain's:

The axe has fallen on local home improvement retailer Weisman Discount Home Centers Inc. The eight-store chain, which is headquartered in Springfield Gardens, Queens, recently filed for Chapter 7 bankruptcy protection in Delaware Bankruptcy Court, listing liabilities between $10 million and $50 million. The 77-year-old retailer owes money to more than 100 creditors, who will meet to divvy up assets in September.

Weisman is closing all of its locations, which are scattered throughout Brooklyn, Queens and Long Island, and is laying off about 111 people, according to notices filed with the New York state Department of Labor. William Hazeltine of Sullivan Hazeltine Allinson, the lawyer handling the bankruptcy case, did not return calls requesting comment. There was no answer at any of Weisman’s current stores.

4 comments:

jerry said...

MADEWELL KITCHENS SELLS MANY OF THE KITCHEN CABINET LINES THAT WEISMAN SOLD.THEY ARE VERY PROFESSIONAL AND WE ONLY HAD A POSITIVE EXPERIENCE WITH THEM. 718-460-0007

Anonymous said...

I'm sad. I will miss this store. It is an affordable option for the middle class. Hope they stick around for a little while longer.

Anonymous said...

I despse the company, as it was run by the most unprincipled, ruthless, ineffective bunch of liars that ever walked. Good riddance to bad rubbish, although , as usual, innocent, good, hard-working folks get the shaft. Queens shoyuldn;t miss these T*rds; better, more honest discounters will come along.

JON said...

Weisman's was ONCE a great chain. Weisman's had a GREAT business model: RTA(Ready to Assemble) kitchen sets, tiles, countertops, etc. of decent quality but at very affordable pricing for the lower middle class and middle income homeowner. However, this company was awfully run, and my work with them was the single most painful and fruitless thing that I have ever done in my life. I was terminated months before they closed their doors, but the company was circling the drain before I left ; those of us who tried to right it were ignored---or canned. I jave never experienced more back-stabbing, self-dealing, Beggar Thy Neighboring than I did while employed with these people---and I worked in the U.S. Congress and in politics before!!!! If half as much interest from the top levels in helping, developing and playing on a TEAM as spent on knifing people of merit, Weisman would still be in business.