NEW YORK (AP) _ Soap and lotion seller Crabtree & Evelyn Ltd. says it filed for Chapter 11 bankruptcy protection on Wednesday, a victim of the slowdown in consumer spending amid the recession.
It says it will evaluate its real estate portfolio and try to terminate leases on underperforming stores to try to restructure and emerge from bankruptcy. The filing does not include operations outside the U.S.
The Woodstock, Conn.-based company reported in a court filing that it has debt totaling $10 million to $50 million and assets in the same range. The company is privately held.
The company runs 126 retail stores as well as wholesale, export and online businesses.
The company sells Vera Bradley quilted fabric bags and wallets.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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