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Feb 05,2008
Wickes Furniture files for protection
by UPI

WHEELING, Ill. - Wickes Furniture Co., of Wheeling, Ill., a chain with 37 stores in Illinois, Indiana, Oregon and California, has filed for Chapter 11 bankruptcy protection.

The company Monday declared its liabilities were between $50 million and $100 million, while its assets ranged between $10 million and $50 million, the Chicago Tribune reported.

Wickes had been asking suppliers to hold off on payments. Its parent company, Sun Capital Partners Inc., specializes in leveraged buy-outs, the report said.

Wickes has about 1,700 employees.

© 2008 United Press International. All Rights Reserved.

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