A federal bankruptcy judge in Richmond approved S&K Famous Brands Inc.'s plan Wednesday to sell its assets to a liquidator.
Going out of business sales could begin as early as Thursday at its 105 remaining stores, including seven across Hampton Roads.
The sale will be administered by Gordon Brothers Retail Group, which won an auction to acquire the assets of S&K. It guaranteed payment of at least $7.9 million to the bankruptcy estate. Proceeds would be distributed to creditors that are owed about $35 million.
S&K filed bankruptcy in February in hopes of reorganizing its troubled finances in Chapter 11.
The Glen Allen-based company has a long history in Virginia and Hampton Roads. It has local stores at Pembroke Mall and Lynnhaven North Shopping Center in Virginia Beach, Crossways at Greenbrier in Chesapeake, Coliseum Mall in Hampton, Patrick Henry Mall in Newport News and at Williamsburg Marketcenter and Williamsburg Outlet Mall.
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Wow!!!
You people are totally tripping....man take a breath will ya!!!!! Do to the economy another company bites the big one....but what's up with "Hampton Roads" v/s "Tidewater" or "Southside" or "Pennisula"..... you know when someone ask's you where you live, what do you tell them? I know you don't say "Hampton Roads" or "I live in Tidewater" ....no you say "I live in Virginia Beach" or "Norfolk"...sorry to the lady that her husband lost his job....good luck lady...
What?
WHAT difference does it make if we are in "Hampton Roads" or "Tidewater" ????????
I was born and raised in Norfolk and STILL do not "understand" Hampton Roads and Tidewater as a description of our area?
THIS article is about S&K Menswear, where my husband has worked for almost 20 years!
He is off today and is "job hunting".
Forget the job.......we will have NO health Insurance soon!
We have contacted dozens of insurance companies.......NONE of them will give us health insurance because he has existing Kidney problems?
We have contacted AARP.......any many others!
Does anyone have a solution?
We would Greatly appreciate any advice!
Thanks!
Consistency?
A joke?
No one can figure out where or what hampton roads is.
Maybe one day we will be identified as a real city and people will be able to know where we are. Until then, we are a waterway in the middle of the Chesapeake Bay.
Another one bites the dust
Amazing. Another business goes under, jobs are lost, the local economy suffers more, and all people can do here is complain about what or where Hampton Roads is. Can we say "malcontents?
I have several suits from S&K that have all lasted through several years of occassional wear, without issue. Then again, I prefer to shop at local and regional chains versus the national ones, as service and quality does seem to be better at these type locations. It appears though that since they don't have the buying power of the national chains, they will continue to get eaten by the "big boys". Circuit City, K-Mart, A&N, and now S&K. Who's next?
To Yepitsme
I guess you and I both have to go somewhere else to get our free lifetime alterations. I bought my suit from them about 10 years ago and it is still doing fine. I have to admit, though, that I don't wear it very often. I am not a suit and tie kind of guy.
Sad to see them go
I bought a great suit from them 9 years ago and it's still going strong.
Not a great loss..
This comes as not great surprise. They sold cheap quality suits that would not last any longer than a month or two. Goodbye and good riddance!
That's an impressive feat
to know they have a store in Coliseum Mall, considering that mall was razed in 2008 and Peninsula Town Center is being built in its place, but there is no S&K there. Sounds like they need to update their press releases.
The Hampton Roads Debate...
So in THIS article -- they mention 7 stores in Hampton Roads (including 2 in Williamsburg).
However, in yesterday's article -- http://hamptonroads.com/2009/05/macarthur-center-gets-three-new-businesses#comment-731291 -- they don't count the Williamsburg location of Fossil as part of Hampton Roads.
Can we get a little consistency going on here @ the Pilot please??
Thanks!