Joseph-Beth files for Chapter 11
Published: November 12, 2010
Time posted: 11:51 am
Joseph-Beth Group has filed for Chapter 11 bankruptcy protection after announcing last week it is closing a Charlotte bookstore.
The company, based in Cincinnati, is also closing stores in Cleveland, Pittsburgh and Nashville, Tenn.
The company blames its struggles on the economy and online bookstores.
Joseph-Beth, which opened in SouthPark in 2005, is scheduled to close by the end of this month.
JBG, the parent company of Joseph-Beth Booksellers and Davis-Kidd Booksellers, filed a Chapter 11 petition Thursday in U.S. Bankruptcy Court in Lexington, Ky., saying it wants to restructure debt and improve stability.
Borders is also expected to close a bookstore in Morrocroft Village Shopping Center in January.