Oh crap. One of my clients just filed for Chapter 11 Bankruptcy

[Lorien]

I just received a stack of legal papers from the United States bankruptcy court for the District of Delaware. One is a notice of commencement of chapter 11 bankruptcy and the other is a notice of sale hearing, both for Hoop holdings LLC (they own two of my employers; the Children's Place and The Disney Stores). I've become close friends with one of the Art Directors there who I've worked with for 15 years now. He has two kids who are in college.:-(

Today the economic collapse is really hitting home.

:cry:

[angstlessk]

1. I googled hoop holdings, llc and it said the bankrupcy did not affect

their parent company, Children's Place retail stores? Here is the link http://www.primenewswire.com/newsroom/news.html?d=138931

[SidDithers]

2. Looks like it might be The Disney Stores only...

If I read the attached correctly, The Children's Place is the parent company, and is not affected by the Chapter 11.

http://www.stockhouse.com/News/ReleaseDetail.aspx?n=6822754

Hope everything works out OK. We love the Children's Place for our kids.

Sid

[Lorien]

3. I do most of my work for the Disney Stores, and my friend is a senior

Art Director for them. I really hope that Disney buys the company back (it would only make sense) and that the jobs can be saved. I know so many commercial art professionals who have become unemployed in the past six years; the ones who are already out there don't need the competition. The ones who are recently unemployed are left with very few options. It's pretty scary.

[spinbaby]

4. There was a story about Disney buying back the Disney Store

Can't put my hands on it at the moment, but Disney was supposed to take over the stores again. Perhaps they were working out a deal because they knew the stores were about to go under.