Last Update: March 19 @ 7:09 PM
retail
Crabtree & Evelyn files for bankruptcy
By PBN Staff


WARWICK – Gift and toiletry maker Crabtree & Evelyn Ltd. filed for bankruptcy protection in New York today, blaming the fall in consumer spending for its financial troubles, Bloomberg News reported.

The Woodstock, Conn.-based company owns and operates a store at the Garden City Center mall in Cranston. Its products are sold at a number of specialty shops in the state, as well.

“We are confident that Chapter 11 gives us the opportunity to restructure the company with a business model that will be sustainable for long-term growth,” Stephen Bestwick, the retailer’s acting president, said in a statement.

Crabtree & Evelyn is a wholly-owned subsidiary of Kuala Lumpur Kepong Bhd., a Malaysian company that also owns palm oil and rubber plantations.

Not registered? Click here
E-mail this
Print this
Order a Reprint
You must be logged in to post a comment. click here to log in.
Latest Local Press Releases
From the PR Newswire

Contents of this site are all Copyright © 2010, Providence Business News. All rights reserved. Powered By: Creative Circle Advertising Solutions, Inc.