Innovation Luggage Files Ch. 11
Feb 12th, 2009 | By Greg Hazley | Category: On tapThe economic plunge continues to be felt in the Secaucus business community.
Innovation Luggage, headquartered at 60 Metro Way, Secaucus, has filed for Chapter 11 bankruptcy protection.
The sluggish economy has put a damper on all kinds of travel, so the struggles of a top luggage retailer are understandable.
The luggage retailer seeks protection from its creditors to bide time for restructuring and renegotiating leases, according to Crain’s New York.
IL has 10 stores across New York, New Jersey, Connecticut, and Washington D.C. listed on its website. It closed down five late last year. Local stores are in Manhattan and Paramus, N.J., and its e-commerce operation runs out of Secaucus.
Manta.com estimates the company has 98 employees. Sales for 2008 were $13M, according to Hoover’s.
Last week, Children’s Place said it was moving 350 Secaucus-based jobs to Alabama.
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