Nightclub takes hit from Lehman cuts
China Daily | Updated: 2010-02-26 07:59
NEW YORK: China Club, a New York nightclub, filed for bankruptcy protection, saying job cuts at Lehman Brothers Holdings Inc hurt its business.
Nightlife Enterprises LP, doing business as China Club, listed as much as $10 million in both assets and debt in Chapter 11 documents in US Bankruptcy Court in Manhattan.
The company "began to experience a significant downturn in business in late 2007 due to the overall downturn in the economy, compounded by the layoffs at Lehman Brothers, many of whose employees were regular customers at the club", Daniel Fried, president of Late Night Management Inc, said in court papers.
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