High-end accessories firm Lambertson Truex on Thursday filed Chapter 11. The company has already closed its stores in Los Angeles and Las Vegas. Its New York store, at 692 Madison Avenue, and Web site remain in operation.
Samsonite Corp. acquired a majority stake in the ten year-old firm in 2007. Founders John Truex and
Richard Lambertson are still with the firm as creative directors.
Giuseppe Bonfiglio, president, said the company has been actively courting potential partners.
The company said it
has “determined that it will not pursue [debtor-in-possession]
financing to sustain its post-petition operations.” With the closure of
the two retail stores, the company said it had “determined that it has
adequate cash flow to fund itself during the Chapter 11 proceeding
pending a sale.”