Liquidation Planned for Sakowitz Chain: All but...

Liquidation Planned for Sakowitz Chain: All but one of the Sakowitz specialty stores were slated for liquidation after no bids were received for the Texas-based retailer at a bankruptcy court hearing. The chain, which includes five stores in Texas and one in Cincinnati, is 80% owned by Atlanta-based L. J. Hooker Corp., a subsidiary of Australia’s Hooker Corp. Hooker has been disposing of its assets under bankruptcy court supervision. U.S. Bankruptcy Court Judge Tina Brozman indicated that she would approve the plan to liquidate all of the Texas Sakowitz stores. The Sakowitz in Cincinnati’s Forest Fair Mall would remain open.