Frederick's Files for Reorganization.Frederick's of Hollywood Frederick's of Hollywood is a well known retailer of lingerie in the United States, with stores in many modern shopping malls across the USA. The business was started by Frederick Mellinger (inventor of the push-up bra) in 1946. , the 54-year-old purveyor (World-Wide Web) Purveyor - A World-Wide Web server for Windows NT and Windows 95 (when available). http://process.com/. E-mail: <info@process.com>. of naughty lingerie, filed for Chapter 11 bankruptcy protection. The retailer is seeking protection from the heavy burden of debt taken on when it went private three years ago. The company wants federal court permission to stop repaying nearly $55 million that its previous owner, Chicago investment group Knightsbridge Capital Corp., incurred when it bought Frederick's from public shareholders for about $70 million in 1997. Knightsbridge sold the company last month to Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. private investment firm Wilshire Partners. Terms of that deal were not disclosed. The debt isn't Frederick's only problem, however. The company must overcome changing shopping habits and a reputation for tawdriness taw·dry adj. taw·dri·er, taw·dri·est 1. Gaudy and cheap in nature or appearance. See Synonyms at gaudy1. 2. Shameful or indecent: tawdry secrets. n. that has allowed rival Victoria's Secret to dominate the specialty market for intimate apparel. |
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