Porch & Patio files bankruptcy
Staff -- Casual Living, 6/1/2006 12:00:00 AM
After filing for Chapter 11 bank-ruptcy reorganization in early May, Porch & Patio launched a furniture liquidation sale at one of its remaining two stores in Orange and Wethersfield, Conn.
Founded in 1951, Porch & Patio had closed two of its locations over the past year but hoped to reopen one or both of its remaining stores as part of the reorganization, a company spokesman said. The decision to file for Chapter 11 came after the company recently discovered "substantial cash flow and management breakdown problems," according to a company news release. Ben Fronsaglia, president, Porch & Patio, did not comment on company plans.
Among its 20 largest unsecured creditors were outdoor furniture manufacturers Winston Furniture, nearly $107,000; Tropitone, about $95,500; Outdoor Lifestyle, nearly $52,000; Woodard, more than $46,500; Brown Jordan Companies, nearly $45,000; Cebu Imports, nearly $41,000; Panacea Products, nearly $33,000; Whitecraft, nearly $25,000, and Treasure Garden, about $57,000.
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