In and Out of Bankruptcy

Chapter 11 is the name of the game for two apparel chains moving in opposite directions. Weiner's, a Houston-based specialty apparel chain of 144 stores, has filed for Chapter 11 bankruptcy protection, citing poor sales and operating losses during the first half of fiscal 2000.

As part of its restructuring strategy, the company will close 44 stores, including units in Arkansas, Louisiana and Texas. The remaining 97 stores are slated for a redesign after the holidays, adding merchandise offerings of home fashions, furniture, electronics, toys, housewares and small appliances.

On the plus side of the bankruptcy picture, Fine's has freed itself from Chapter 11 protection. Since filing in February 1999, the Norfolk, Va.-based young men's clothing chain has closed 30 of its original 50 stores. The company has locked in an extension of its $3.5 million line of credit for future security.