(Catalog Age)–Home accessories cataloger and retailer Chiasso filed for federal bankruptcy protection on Jan. 7. Ten of the company’s 14 stores will be shuttered but the reorganization is not expected to affect the catalog and Internet operations.
“Our goal is to keep the ‘best of the best’ retail locations and funnel the executive team’s energy on catalog and Internet sales,” said CEO David Marshall.
The direct division accounts for about 50% of the firm’s revenue.
The weak economy, which resulted in two years of declining holiday sales for the firm, also hampered Chiasso’s expansion plans and made it too costly to maintain stores in geographically dispersed locations, he said.
Chiasso began as a retail company, its catalog division is less than four years old. The company will continue to operate stores in Chicago; Boston; Tyson Corners, VA; and Troy, MI.
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