Lamonts files for Chapter 11, again

KIRKLAND -- Lamonts Apparel Inc., which operates 38 department stores in the Pacific Northwest, filed for Chapter 11 bankruptcy protection on Tuesday, its second such filing in five years.

The company said in a statement that its cash flow had been squeezed by slow spring and summer sales and unexpected costs associated with fixing its Y2K computer problems...

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The company paid a combined $10 million to install new computerized registers and other hardware as part of its efforts to combat the Y2K bug...

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-- Still crazy and lurking (after all@these.years), February 09, 2000

Answers

So now they are a "small" business, and they can qualify for some of that cheap SBA money for Y2K fixer-upper projects.

-- JIT (justintime@rightnow.net), February 10, 2000.

FWIW, Early last year before I got back on line I read in local paper about a small company that closed up shop because they knew they could not afford to fix Y2K problems. I was not on here then or I would have scanned and posted. Don't remember details. Not worth much, so no flames please. I can hear the Pollies now: 'Those idiots, they deserve it because they believed the hype.'

-- Kyle (midtnbuddy@juno.com), February 10, 2000.

If this is their second filing in five years, they had serious problems before Y2k broke the camel's back.

-- I'm Here, I'm There (I'm Everywhere@so.beware), February 10, 2000.

Yeah, they've had a rocky time for some time, now. Can't really call this part of the projected wave of y2k bankruptcies, which we have yet to see develop.

-- bw (home@puget.sound), February 10, 2000.