USA: Kasper Files For Chapter 11 Protection
The world's largest ladies' suit manufacturer Kasper ASL Ltd yesterday filed for Chapter 11 protection from its creditors in Manhattan federal bankruptcy court. The fashion giant, whose brands include Kasper, Anne Klein and Albert Nippon, will today ask US Bankruptcy Judge Allan L Gropper to approve $126 million in debtor-in-possession financing, including $35 million in new borrowings, to pay its vendors and employees.
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