Gentlemen,
Did anyone hear the news that Crabtree & Evelyn has filed for Chapter 11?
Or was my coffee too potent this morning and I started seeing things?
Regards,
Obie
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Gentlemen,
Did anyone hear the news that Crabtree & Evelyn has filed for Chapter 11?
Or was my coffee too potent this morning and I started seeing things?
Regards,
Obie
I think there was already a thread on it yesterday or the day before.
Yes you did hear that.
Crabtree & Evelyn seeks Chapter 11 - The Business Review (Albany):
Crom
I would assume that it is almost entirely due to their decision to stop carrying their great shave brush.
Let's hope their naturals line goes back on sale. I really liked that face scrub!
Gentlemen,
Apparently I missed the previous post on Crabtree & Evelyn's filing for Chapter 11. Their products are high quality, even though a touch on the pricey side.
Either way, this turn of events is sad news. What's the world coming to? Crabtree, Trumper, Taylor, Harris, Jagger and scores of others — these are sacred grounds.
Well, let's hope the company remains, one way or the other, and that its products remain worthy of gentlemen shavers.
Regards,
Obie
They are still going in Britain. In fact they are opening two new shops.
Gareth
Gareth,
Thank you for that bit of news: that the company seems to flourish in England. That's at least some good news. If you can post something on the subject from time to time, that would be nice.
Regards,
Obie
Gareth,
Thanks for that bit of reality check. Perhaps we in the U.S. can find acceptable postal rates from England and order from the company from time to time. Although it is not the same as walking into a Crabtree & Evelyn store and treating the senses to the symphony of delightful fragrances performing in the air.
Regards,
Obie
Oh, I wouldn't worry just yet. Doesn't Chapter 11 mean... nothing changes, giving the business time to restructure its finances so it can carry on operating? Like a second chance?
How long does being in Chapter 11 last anyway? :shrug:
I remember when K-Mart filed chapter 11 and 6 months later purchased Sears who had just purchased Lands' End.
Chapter 11 is nothing to worry about.
Correct me if I am wrong, but I do not believe that chapter 11 filing means that the comapny is out of busines.
I believe it means the company is no longer a going concern (unable to meet its what it owes to its creditors), but that it has been given a reprieve to continue operating as normal to see if it can get its sh1t* together before the liquidators are called in.
*That would be a technical business term.
Put another way, the company is not out of business but might be very shortly. GM has filed for chapter 11 many times over the history of the business and so has Crysler and Ford for that matter.
Gentlemen,
No, of course not: Chapter 11 does not necessarily mean the end. On the other hand, Chapter 11 always gives me a bad feeling.
It's like smelling an ambush.
Regards,
Obie
As a Lehman Brothers shareholder, chapter 11 doesn't necessarily mean that C&E are going to go out of business but it's a BIG first step. It depends on how C&E USA and their creditors get along in court. If the creditors are willing to re-structure debt then they should be ok. Otherwise, C&E USA will be forced to sell off assets and that would be a likely death knell.
I'm keeping my fingers crossed
Cheers!
Gentlemen,
That is one of the best explanations on the subject of Chapter 11. Well done, indeed, especially from a former stockbroker.
So, yes, let's all hope miracles happen and the companies avoids evaporating in the U.S.
Regards,
Obie