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NO MORE DOTS: A federal bankruptcy court in Newark, N.J. on Thursday approved the sale of the chain's assets to Gordon Brothers as the liquidation agent for the bankrupt retail chain. Going-out-of-business sales at the $325 million chain are expected to begin next month and end in May.
The chain filed a voluntary Chapter 11 petition for bankruptcy court protection last month, although it began feeling liquidity constraints in October when some vendors and factors either shortened the time frame for payment for goods or began demanding payment upon delivery.