Liz Claiborne Denies Bankruptcy Rumors

Facing continuing losses and forecasting third quarter sales declines of 15 to 25%, Liz Claiborne Inc., has quietly retained turnaround consultant Alvaraz and Marsal. Such moves often presage bankruptcy.

Steve Cohn, managing director at Alvarez and Marsal, denied his new client is preparing for a bankruptcy filing.  Cohn told the Wall Street Journal that his firm is looking at improving Claiborne's working capital, collections and inventory.


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