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  1. #1
    \(^.^)/ Jennifer's Avatar
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    Default Lambertson Truex Files Bankruptcy

    Just saw this on reuters..

    Lambertson Truex LLC, a maker of designer handbags, filed for Chapter 11 bankruptcy protection because of reduced demand for its products.

    Finance director Maurice Dembsky said in a court filing that the extreme downturn in the global economy had crimped spending among customers typically willing to spend more on designer products than on store-brand or generic equivalents.
    "Uncertainties with respect to future gains, inflation, and cash availability have led to 'shy spending,' even by customers formerly interested in purchasing high-quality products," he said.


    Lambertson Truex filed for protection from creditors on Thursday with the U.S. bankruptcy court in Wilmington, Delaware. The New York-based company has between $1 million and $10 million of assets, and between $10 million and $50 million of debt, the petition shows.


    Lambertson Truex said it was formed in 2006 when Samsonite Corp invested in and took a majority stake in the business, along with a "significant amount" of debt. (Reporting by Jonathan Stempel)

  2. #2
    Jacqueline coach-princess348's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    Wow. Thanks for posting Jen.

  3. #3
    working on my phd pingping's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    wow, thanks for the info, that's craziness.
    Now on a BAN!

  4. #4
    Rising Bag Star
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    Default Re: Lambertson Truex Files Bankruptcy

    no surprise. they've been rocky for a while. they failed to garner attention from the most important part of their demographic. Just nothing "new" enough. It's sad. They were a great company.

  5. #5
    The Bag Star M_Butterfly's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    Wow.. but there is a lot companies on the same boat... My is!!

  6. #6
    Official Bagista frbspa's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    That is a pity! LT has some really classic and well made bags. Their customer service are excellent too. Wonder who's next?
    CURRENT LUST LIST:

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  7. #7
    A little eccentric warhols__muse's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    That's too bad.
    If love is the answer, what is the question?

  8. #8
    The Bag Star M_Butterfly's Avatar
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    Default Re: Lambertson Truex Files Bankruptcy

    You know I should have said that chapter 11 maybe a way to solve some issues, get rid of some contracts and save some cash. Under Chapter 11 a company get reorganized and restructured not liquidated. Many companies have come out of Chapter 11 like the Airlines. Let us hope for the best

  9. #9
    I give up ^_^
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    Default Re: Lambertson Truex Files Bankruptcy

    The New York-based company has between $1 million and $10 million of assets, and between $10 million and $50 million of debt, the petition shows.


    What a shame. I always though they were doing great, their purses are very pretty but I guess the price tag did not help their company. I hope their business gets better. Thanks for posting Jen.

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