Buffums Files for Bankruptcy: The Southern California...
From Times Staff and Wire Reports
Buffums Files for Bankruptcy: The Southern California department store chain that is closing down filed for Chapter 11 bankruptcy court protection. Buffums’ lawyer Marc Belinson said the company took the action after “four or five” of its landlords refused to waive provisions in its store leases that bar going-out-of-business sales. Belinson said the company expects to win bankruptcy court approval to pay all of its suppliers in full. Buffums, founded in Long Beach in 1904, announced its plans last week to close its 16 stores in the last week of May.
