Soap and lotion seller Crabtree & Evelyn Ltd. filed for Chapter 11 bankruptcy protection on Wednesday, a victim of the slowdown in consumer spending amid the recession.
It said it will evaluate its real estate portfolio and try to terminate leases on underperforming stores to try to restructure and emerge from bankruptcy. The filing does not include operations outside the U.S.
The Woodstock, Conn.-based company reported in a court filing that it has debt totalling $10 million to $50 million and assets in the same range. The company is privately held.
The company runs 126 retail stores as well as wholesale, export and online businesses.
