Lamonts Emerges From Chapter 11

Wed., Feb. 4, 1998

Compiled From Wire Services

Family-clothing retailer Lamonts Apparel has emerged from Chapter 11 bankruptcy protection after a three-year reorganization.

The Kirkland-based chain, which has 38 stores in five Western states, came out of Chapter 11 on Sunday simultaneously with its reorganization plan taking effect.

The reorganization resulted in improved operations, a strengthened balance sheet and $42 million in financing under an agreement with BankBoston.

Lamonts filed for protection from creditors on Jan. 6, 1995, after several years of net losses.

The company closed a number of unprofitable stores, dropping its store count from 57 to 38, as part of its reorganization plan.

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Lamonts Emerges From Chapter 11

Jesse Tinsley

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