From Craine’s Business Report:
Another garment center seam rips
A 91-year-old dress supply company becomes the latest in long series of garment firms to file for bankruptcy; lists largest creditor as landlord Olmstead Properties.
Another tenant has been cut out of the fabric of the garment center. Greenberg & Hammer Inc., a 91-year-old dress-supply company based on Eighth Avenue and West 37th Street, has liquidated. The Chapter 7 bankruptcy filing, released Thursday, listed assets of $55,964 and liabilities totaling nearly $441,000…
Oh dear. I was in G&H this summer, and my radar was going off that something was not right. Chapter 7 liquidation means the business is closing completely. I think things started going south before they moved from their street-level location to the 7th floor of an 8th Avenue building. To get in to the store, you had to sign in with the surly guard in the lobby – never a good thing for a retail operation.
Well, there’s a damned shame. Vale G&H. You will be missed.