Despite months of negotiations with trade creditors and banks, the Grand Rapids-based chain was unable to negotiate a restructuring plan and has retained Tiger Capital and Great American Group to liquidate the inventory at all 68 stores. Its petition indicates it expects a recovery for trade vendors. Trade claims total $27.6 million. In addition to the trade claims, it has $49,350,000 outstanding on its credit line with Wells Fargo. The current balance sheet shows assets of $78 million, including $62 million in inventory. For the most recent FY, it had sales of $174.6 million and a loss of $5.4 million. ... Log in to view full article.