CARPET BUSINESS FILES CHAPTER 11.Byline: Greg Hardesty The Orange Country Register Carpeteria Inc., which recently closed several stores, filed Thursday for Chapter 11 bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection. Details of the reorganization filing were not immediately available. Santa Clarita-based Carpeteria, founded in 1960 by brothers Harold and Ted Haserjian, owns about 16 floor-covering stores throughout the state. The doors on the company-owned stores were locked earlier this month, with merchandise still inside. The fate of those stores is up in the air as Carpeteria tries to reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. its finances and stave off stave n. 1. A narrow strip of wood forming part of the sides of a barrel, tub, or similar structure. 2. A rung of a ladder or chair. 3. A staff or cudgel. 4. Music See staff1. creditors through the bankruptcy filing. Company President Bryan Y. Haserjian did not return calls on Friday. Joe Weinberg, a bankruptcy attorney representing Carpeteria, would not comment on the filing. The Chapter 11 filing only involves company-owned Carpeterias and not the estimated 40 other Carpeterias in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Nevada, Oregon and Pennsylvania that are operated by franchisees. All of the franchise-run Carpeterias are doing fine, said Ray Yeghiazarian, who owns three Carpeteria stores in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . Michelle Davis, a student and homemaker in Anaheim, plunked down $2,900 at the Brea Carpeteria in early February to recarpet her house. A few days later, the store was closed. Davis said she canceled a $1,300 installation charge on a credit card but still is out $1,600 for the carpet. After more than a week of calling Carpeteria headquarters and getting nowhere, Davis said, she finally got in touch with a representative Wednesday after threatening to take legal action against the company. The Carpeteria official promised that the carpet would be delivered to her home within three weeks, Davis said. But she said she still is upset about what she felt was a runaround run·a·round n. 1. Informal Deception, usually in the form of evasive excuses. 2. Printing Type set in a column narrower than the body of the text, as on either side of a picture. from Carpeteria. ``They should have called all their customers and said, look, this is what's going on What's Going On is a record by American soul singer Marvin Gaye. Released on May 21, 1971 (see 1971 in music), What's Going On reflected the beginning of a new trend in soul music. ,'' Davis said. ``It's terrible customer service.'' |
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