USA: Track 'n Trail Announces Chapter 11 Filing
Track 'n Trail, one of the largest full-service specialty retailers in the United States, focusing on a broad range of branded casual, outdoor and adventure footwear, has filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code in Oakland, California. A statement issued by the company says that daily operations at its stores will continue. Chapter 11 of the US Bankruptcy Code allows a company to continue operating its business and to maintain possession of its property while it restructures its operations and finances under the protection of the Bankruptcy Code.
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