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Bankruptcy to Cost 1,600 Jobs: Channel Home...

From Times Staff and Wire reports

Bankruptcy to Cost 1,600 Jobs: Channel Home Centers Inc.'s bankruptcy reorganization willinvolve the loss of about 1,600 jobs through the closure of 34 stores in New England ad the Mid-Atlantic states, a company spokeswoman said. The home-improvement firm, based in Whippany, N.J., filed for Chapter 11 bankruptcy protection in New Jersey. The biggest reason for the filing, said spokeswoman Sandra Sternberg, was the collapse of the Texas economy in the mid- 1980s that drove the company’s 100 Handy Dan stores out of business.


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