Samsonite unit files bankruptcy petition
2:36 PM Thu, Sep 03, 2009 | Permalink
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The retail unit of luggage maker Samsonite Corp. has filed for bankrutpcy protection, a victim of a recession that has curbed travel. The company filed in U.S. Bankruptcy Court, Wilmington, Del. Samsonite Company Stores LLC wants to close as many as 84 stores to focus on its more-profitable outlet operations. Samsonite operates 173 stores in 38 U.S. states. The cutback in its retail operation is part of a companywide cost-cutting initiative by Mansfield, Mass.-based Samsonite Corp., which itself isn't part of the bankruptcy request. 
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