S&K Famous Brands Bankruptcy Announcement

Attention Creditors of S&K Famous Brands, Inc. (dba S&K Menswear)

From: Cantor Arkema, P.C., Bankruptcy and Creditors’ Rights Attorneys
Date: Monday, February 9, 2009

S&K Famous Brands, Inc. (“S&K”) of Glen Allen in Henrico County, Virginia filed for protection under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Eastern District of Virginia, Richmond Division, on Monday, February 9, 2009, case number 09-30805.

S&K is a retailer of menswear that was founded in Richmond, Virginia in 1967 by Abe Kaminsky and Hip Siegel.  S&K operates its stores under the name S&K Menswear.  S&K operated 100 stores in 1990 and 200 stores in 1997.  In 2005, the company was delisted from NASDAQ.  In July of 2008, the company hired the turn-around firm of Alvarez and Marshal.  Alvarez and Marshal reduced S&K’s operations from 219 to 136 stores.  S&K seeks to reduce its operations further through the bankruptcy. 

Rejection of Leases & Executory Contracts:
As of its first day motions, S&K is proposing to reject 79 leases and 22 executory contracts.  Landlords and those objecting to the rejection must do so by counsel.  The objection deadline has yet to be set and must be assumed to require immediate action.  Those affected by the rejection may be able to seek rejection damages against the guarantor of a rejected guaranty and may have the right to seek contract rejection damages.

S&K Vital Statistics
Assets:                $41,440,100
Liabilities:           $35,499,000
Creditors:           1,000 – 5,000

The Bankruptcy and Creditors’ Rights Attorneys of Cantor Arkema, P.C. have represented numerous creditors, including landlords, in complicated Chapter 11 Bankruptcy cases, including the recent Chapter 11 bankruptcies of Movie Gallery, Inc. (Hollywood Video) and Circuit City, Inc. 

For more information about the S&K bankruptcy case and Cantor Arkema P.C.’s services, please contact:
Ronald A. Page, Jr, Esq.
Direct Dial: 804-343-4367
Email: rpage@cantorarkema.com

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