Lillian Vernon allowed to liquidate
- February 22, 2008
A bankruptcy judge gave temporary approval to Lillian Vernon to begin liquidation, according to The Virginian-Pilot.
The judge from the U.S. Bankruptcy Court in Delaware allowed the company to hire a liquidator to sell its remaining items. The store’s Web site is offering discounts up to 85 percent.
The company filed for bankruptcy with the court after years of declining sales and a poor Christmas shopping season. The court will hold a final hearing on March 7.