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Posts tagged "liquidation of debts"

One of Cleveland's oldest companies in bankruptcy


According to the government, the sale of the nation's oldest privately owned clothing maker, now bankrupt, may be happening too quickly and may not be in the best interests of the bankrupt company's creditors. The clothing company has been making tailored suits and clothing in Cleveland, Tennessee since 1880. The privately owned company is currently operating under bankruptcy court supervision. The company hopes to emerge from bankruptcy after a proposed $2 million sale to a local Cleveland millionaire who says he wants to rebuild the business and save Cleveland's oldest company.