Thursday, July 03, 2008
After 101 Years Dawahares To Go Out Of Business
The Lexington Herald Leader has reported that Lexington based Dawahares will close its twenty -two remaining stores this fall ending the family owned company after 101 of service.
The announcement came Thursday in U.S. Bankruptcy Court. The company recently closed seven stores after filing for bankruptcy protection in May.
Company officials said that it had to make the difficult decision because the business is expected to run out of money by the end of October.
Dawahare's expects the liquidation of the stores to begin by July 14th and to end by September 30th.
It is estimated that 400 people will be effected.
Dawahare's operates two stores in Pike County with one in Pikeville and the other located at Goody.
The announcement came Thursday in U.S. Bankruptcy Court. The company recently closed seven stores after filing for bankruptcy protection in May.
Company officials said that it had to make the difficult decision because the business is expected to run out of money by the end of October.
Dawahare's expects the liquidation of the stores to begin by July 14th and to end by September 30th.
It is estimated that 400 people will be effected.
Dawahare's operates two stores in Pike County with one in Pikeville and the other located at Goody.
# posted by Joe Kinzer @ 11:25 PM 
