PJ Kids closes doors after bank seizes assets


Furniture importer PJ Kids has shut down, after a creditor seized its assets. We heard this news from a baby store retailer today and it was confirmed by a trade journal report (Kids Today, see below).

P.J. Kids closes doors
8/5/2005

By Jane Kitchen

PRINCETON, N.J. -- Privately held juvenile furniture and accessory manufacturer P.J. Kids has closed its doors and its assets are being liquidated.

President Stewart Paul, who is traveling overseas, confirmed in an email that all of the company’s assets are in possession of the bank, and are being sold to repay its creditors. “Our bank has asked certain members of the management team and some of its employees to assist in maximizing the return on the sale of the assets,” said Paul in the email.

The manufacturer of imported infant and youth furniture, bedding and accessories had phased out its bedding program this spring, and had in recent weeks let some of its key team members go. Last week, industry buzz was that the company had found a buyer, but the deal did not go through.

You can read the entire report here .

Furniture importer PJ Kids has shut down, after a creditor seized its assets. We heard this news from a baby store retailer today and it was confirmed by a trade journal report (Kids Today, see below).

P.J. Kids closes doors
8/5/2005

By Jane Kitchen

PRINCETON, N.J. -- Privately held juvenile furniture and accessory manufacturer P.J. Kids has closed its doors and its assets are being liquidated.

President Stewart Paul, who is traveling overseas, confirmed in an email that all of the company’s assets are in possession of the bank, and are being sold to repay its creditors. “Our bank has asked certain members of the management team and some of its employees to assist in maximizing the return on the sale of the assets,” said Paul in the email.

The manufacturer of imported infant and youth furniture, bedding and accessories had phased out its bedding program this spring, and had in recent weeks let some of its key team members go. Last week, industry buzz was that the company had found a buyer, but the deal did not go through.

You can read the entire report here .

Posted: Fri - August 5, 2005 at 03:43 PM          

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