Furniture Today / High End Retailer Robb & Stucky in Chapter 11

February 21, 2011

SUMMARY

TAMPA, Fla. — High-end retailer Robb & Stucky filed for Chapter 11 bankruptcy protection Friday after years of struggling in some of the hardest hit housing markets in the country.

The Top 100 company, which operates large full-line stores and smaller Robb & Stucky Patio units in Florida, Las Vegas, Scottsdale, Ariz., and Plano, Texas, listed both assets and debts in the range of $50 million to $100 million. The 19-store company said it is pursuing a sale of some or all of its assets to investors, but also is entertaining liquidation bids.

As part of the process, the retailer negotiated a deal with Hudson Capital Partners and HYPERRAMS to serve as the stalking horse bidder and agent for liquidation of substantially all assets, subject to better offers at an auction. The break-up fee under the agreement is $475,000

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